XRPUSDT Eyes a Breakout as Momentum Builds
2024-11-20

XRPUSDT is trading within a contracting triangle pattern, signaling a potential breakout on the horizon. After a significant bullish rally earlier this month, the pair has entered a consolidation phase, with buyers and sellers in a tug-of-war near the $1.09 level.

The symmetrical triangle reflects market indecision, but the broader trend remains upward, supported by strong moving averages. A breakout above the $1.15 resistance level could trigger another wave of bullish momentum, targeting the $1.30 zone. Conversely, a breakdown below $1.01 would signal bearish dominance, possibly pushing the price toward $0.83.

Traders should monitor key resistance and support levels as the triangle narrows, indicating an imminent resolution. With market sentiment leaning optimistic, XRPUSDT could see a renewed surge if buyers seize control.