XRP’s Bullish Pennant Hints at a Breakout Targeting $15–$17

• XRP is showing a bullish pattern that could lead to a breakout if it holds key support.
• The price must surpass $3.40 to confirm an upward move toward $15 to $17 Price levels.
• If XRP falls below the trendline, it could face downward pressure and lose momentum.

XRP’s latest price action is aligning with an aggressive bullish trajectory, as per market analyst EGRAG CRYPTO. A bullish structure remains in place, suggesting a breakout that could catapult the coin to $15–$17 in the coming sessions. The structure, supported by trendlines and key price levels, reinforces the probability of a surge. However, XRP must close above $3.40 to confirm the breakout. 

Bullish Pennant Structure: Technical Implications

XRP has formed a bullish pennant, a continuation pattern that typically precedes an upward movement. According to the chart, the target for this pattern—measuring the pole leg from the lower end of the pennant—suggests a breakout toward $15. However, if the move follows the normal measured projection, the upper target extends to $17.

This pattern is supported by liquidity levels, particularly the yellow ascending trendline, which has served as a stabilizing area. The price has consistently respected this line, reinforcing its bullish outlook.

Price Levels and Confirmation Standards

Egrag cautions against premature expectations, emphasizing that a decisive close above $3.40 is essential for confirmation. Failure to sustain this could result in a decline, thus disrupting the anticipated upward trajectory.

At the core of this setup, $3.40 stands as the resistance level that XRP must overcome to establish a foothold. Beyond this, resistance in the $15–$17 range emerges as the next target, reinforcing the asset’s potential for a rally.

The trendline acts as a key support, playing a crucial role in maintaining XRP’s bullish structure. Maintaining this trendline is critical, as a failure to do so could weaken the bullish track, exposing the asset to increased bearish pressure. In a more bearish scenario, a break below this barrier could signal a reversal, probably leading to a retest of lower zones observed in previous consolidations. 

Related: Analyst Predicts Bullish Breakout as XRP Gains Momentum

Market Implications and Trader Sentiment

XRP’s current price structure suggests a high-stakes scenario where traders should exercise caution. Volume and momentum indicators will help in confirming the breakout. Previously, bullish pennants have led to explosive price movements when validated, and XRP’s positioning suggests it could follow a similar trajectory.

With crypto volatility at elevated levels, the next few trading sessions will be watched closely. If it breaks above $3.40 with strong volume, the likelihood of reaching $15–$17 strengthens. However, if the asset falters and dips below the line, a bearish trend could develop, invalidating the bullish thesis.

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