XRP is approaching a critical price point as it experiences significant compression between a descending resistance trendline and an ascending support line. This pattern, highlighted by market analyst Dark Defender, suggests that XRP is on the verge of a notable directional breakout. The cryptocurrency has been consolidating after a period of decline, with its price currently supported above $1.21.
The analysis indicates potential volatility in the coming days, with possible price targets including a 20% rise to $1.66 and a 36% increase to $1.88, based on Fibonacci extensions. While the direction of the breakout remains uncertain, the current compression phase is typically followed by rapid price movements, making this a crucial period for XRP traders.
XRP Nears Critical Price Breakout Amid Market Compression
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