XRP Weekly Chart Breakdown: Future Targets and Risk Zones to Watch

The XRP weekly chart covering approximately 100 candlesticks offers a rich narrative of price action, technical patterns, and potential market direction. Historically, XRP traded in a low-volatility range from early 2024 until mid-Q4, when a breakout occurred around October 2024. The breakout, characterized by large bullish candlesticks , signaled a major change in market sentiment. This movement pushed the price from below $0.70 to nearly $3.80 in a sharp vertical rally. This parabolic run was unsustainable and was quickly followed by volatility and consolidation. The presence of this pattern strongly reflects a classic blow-off top, which is now being tested for a retracement phase or a possible continuation pattern. Bollinger Bands and Price Structure Analyzing the Bollinger Bands (20, 2), it is evident that the price experienced a major expansion in late 2024 as XRP surged. The bands widened drastically during the bullish run, followed by a contraction as the price pulled back. Currently, XRP is trading closer to the middle band (SMA 20), which is around $2.40. The price has slipped below this midpoint, now hovering at approximately $2.08. This breach suggests a bearish tone in the short term unless the price can reclaim the SMA level convincingly. However, the lower Bollinger Band rests near $1.77, providing a potential short-term support area. The narrowing bands further signal reduced volatility and a possible squeeze, indicating that a major price move could be on the horizon. MACD Signals and Market Strength The MACD (12, 26, close) confirms the fading bullish momentum. Following a bullish crossover in late 2024, the histogram surged positively, validating the rally. Recently, the MACD line has crossed below the signal line, now reading at 0.1844 against the signal’s 0.3107, with a negative histogram reading of -0.1264. This crossover signals weakening bullish strength and a potential shift to bearish control. If the MACD continues to diverge further downward, a deeper correction may unfold. However, the rate of decline is not accelerating drastically, hinting at a possible stabilization or a period of accumulation if strong buying returns near key support. Patterns and Current Price Action Currently, the price is forming what resembles a symmetrical triangle or a descending consolidation wedge, following the sharp uptrend. This structure often appears in continuation patterns but can also break downward in cases of failing volume or macro weakness. The rejection from $3.50 and the inability to reclaim $2.50 suggests that bulls are currently struggling. However, if the price holds above $1.77 and establishes a higher low in the coming weeks, a bullish breakout remains in play. With this being a weekly chart, even slight weekly movements can foreshadow strong directional shifts in subsequent candles. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Forecast for the Next 100 Candles Projecting over the next 100 weekly candlesticks, which spans roughly two years, the potential for renewed bullish cycles remains viable. If XRP can consolidate between $1.70 and $2.50 and reclaim the $2.80–$3.00 resistance zone, it could reattempt the previous high near $3.80. A breakout above this level could push the price toward $5.50–$6.00 based on the Fibonacci extension and previous rally symmetry. Conversely, a breakdown below $1.70 could drag XRP toward $1.00 or even retest the $0.70 zone from early 2024. Much of this depends on macro market conditions, including Bitcoin’s trajectory and regulatory developments. Conclusion and Weekly Candle Expectation As of today’s price at $2.0718 and considering the current candle structure, this week’s candle may likely close slightly bearish or as a doji if buyers defend the $2.00 zone. The declining MACD histogram, proximity to Bollinger’s lower band, and reduced volatility suggest indecision. If sellers increase pressure midweek and break below $2.00, expect a potential weekly close around $1.85–$1.90. On the upside, a reclaim of $2.20 could flip momentum for a weekly close above $2.30. Traders should watch closely for a volatility squeeze breakout and use this consolidation phase to plan entries with defined risks. 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. Follow us on X , Facebook , Telegram , and Google News The post XRP Weekly Chart Breakdown: Future Targets and Risk Zones to Watch appeared first on Times Tabloid .

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