XRP is making waves once again as it approaches a critical resistance zone around the $2.40 mark. According to crypto analyst XRPunkie, who recently shared insights on X, the digital asset appears primed to breach this level, backed by encouraging weekly chart patterns and a favorable Relative Strength Index (RSI) setup.
XRP Eyes a Breakout
In his latest update, XRPunkie highlighted that XRP is currently testing the $2.40 resistance, and he anticipates a potential breakout soon. The analyst points to the strength shown on the weekly charts and notes that the RSI is on the verge of crossing, suggesting bullish momentum. Should XRP successfully break through this resistance, XRPunkie identifies the next significant levels at approximately $2.70 to $2.90. Beyond that, XRP could target the $5 to $8 range, with potential extensions to as high as $10 to $13.
XRP teasing at the $2.40 resistance zone. Looks like we will break it soon. Weekly charts looks great and RSI looks like gonna cross. Next resistance level ard $2.70-$2.90. After that next stop $5-$8. Possible extends to $10-$13. https://t.co/3a9VB9GpQn pic.twitter.com/Ll3kOIKFVb
— XRPunkie (@Shawnmark7899) May 10, 2025
Previous Predictions Align with Current Trends
XRPunkie’s latest forecast aligns with his earlier analysis from May 1, 2025, in which he described a “beautiful bull pennant” forming on the weekly chart. At that time, he projected a pullback to the $1.80 to $2.00 range before a substantial breakout. The technical target for this bull pennant, according to XRPunkie, could see XRP reaching between $13 and $14, although he cautioned that there would likely be additional pullbacks along the way.
Chart Patterns Signal Bullish Potential
The concept of a bull pennant in technical analysis is typically associated with continuation patterns that follow a significant upward price movement. If XRP maintains its bullish posture and breaks out from this pattern, it could confirm a long-term upward trend. XRPunkie’s focus on the $2.40 resistance zone is particularly noteworthy because a successful breach could signal renewed buying interest and a push toward higher levels.
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Market Sentiment and Catalysts
The positive sentiment around XRP is not without merit. Recent developments, including Ripple’s progress in regulatory clarity and increased institutional interest, have boosted confidence among investors. Furthermore, XRP’s ability to hold above the $1.80-$2.00 support range has reinforced bullish sentiment, as buyers appear resilient even during pullbacks.
Risks and Considerations
Despite the optimistic outlook, caution is warranted. XRP’s history of volatility means that any breakout attempt could face resistance, leading to short-term fluctuations. Traders should be mindful of potential corrections, especially if the asset fails to maintain momentum above key resistance points.
XRP’s approach to the $2.40 resistance zone has the community watching closely, as a successful break could open the door to a much higher valuation. XRPunkie’s analysis offers valuable insights, pointing to both short-term resistance levels and long-term targets. As always, investors are advised to exercise caution, especially given the unpredictable nature of the crypto market.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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