XRP is attempting to close a daily candle above its descending resistance trendline, which has previously limited the altcoin’s price action.
Successive breaks above the trendline and the resistance range of $2.48–$2.60 could signal bullish momentum, potentially leading to a breakout above $2.72.
XRP Half-Mast Flag Suggests 260% Gains
Market analysts suggest XRP is poised for a major breakout, with timing being critical.
Veteran trader Peter Brandt recently highlighted on X that XRP’s half-mast flag on the weekly chart could complete within six weeks.
This neutral pattern often signals consolidation before a trend continuation.
As per Brandt’s analysis, a bullish completion could see XRP’s market cap reach $500 billion, translating to a 262% price gain or a target of $6.40.
However, he cautioned, “This flag in $XRP needs to rock and roll soon, otherwise it will likely morph into something else TBD.”
Crypto trader Mikybull also noted XRP’s breakout potential, citing a bull flag pattern on the 1-day chart.
Using Fibonacci extension lines, Mikybull outlined an immediate target of $3.74, with a long-term target as high as $15, representing a 514% rise from current levels.
Key Resistance Levels for XRP
For XRP to achieve bullish price targets like $3.74 or $6.40, it must first clear the resistance range between $2.48 and $2.60, which has capped price action multiple times.
A liquidity sweep above $2.60 on Dec. 17 highlighted the importance of this level.
Dom, an order flows analyst, observed that XRP has been stuck in a mid-range around $2.45 for six weeks based on the Volume Weighted Average Price (VWAP) metric.
“The profile is starting to look very balanced, indicating a break is soon. Any dip into the orange VWAP bands, I will be bidding for longs. Full acceptance over $2.45 and things likely start moving fast,” he stated.
While XRP appears well-positioned for a rally, traders should heed Brandt’s warning that a breakdown remains possible if resistance holds.
