XRP Bullish Breakout Potential Targets $3.8 Amid Trend Continuation

I see considerable potential for XRP as its price has bounced off a significant trendline, turning previous resistance levels into support, which is a bullish indicator. As the overall crypto market exhibits an uptrend, I believe XRP could continue its bullish momentum into the upcoming week. If this trend persists, XRP might approach its all-time high levels before experiencing a major decline. Currently, XRP holds support above $3, following a breakout above a previous crash level, signaling a possible continuation of its upward trend. The technical analysis points out that XRP’s support level around $3.15 is crucial. As long as the price remains above this level and the structure holds, there’s a strong possibility of a sharp upward move if XRP breaks above $3.4, with a target of reaching $3.8. This move could potentially lead to a 20% rally, pushing XRP to test the next major resistance at $3.8. The key to this bullish outlook is a breakout above $3.4, which would confirm the buy signal and accelerate gains. However, there are risks to be mindful of. If XRP drops back below $3, especially if it breaks below $3.15, the bullish scenario could be invalidated, and a bearish trend might resume. Market weakness or a rejection near $3.8 could also cap further upside, leading to a potential sharp correction. Therefore, monitoring support levels and breakout confirmations is vital for anyone considering a position in XRP. In my view, traders should watch for a confirmed breakout above $3.4 to consider entering long positions targeting $3.8. Conversely, a break below $3.15 should be seen as a signal to avoid bullish bets and consider risk management strategies. Overall, XRP’s technical setup suggests a high likelihood of an upward move given current market conditions, but caution remains essential due to potential reversals.