XRP charts bullish reversal pattern as analyst eyes breakout to $2.65

XRP is showing signs of a potential breakout after forming an inverse head and shoulders pattern on the 4-hour chart, a classic technical signal that often precedes upward price movements. According to leading chart analyst Ali Martinez : “XRP appears to be forming an inverse head and shoulders pattern, potentially setting the stage for a 15% breakout to $2.65.” At the time of writing, XRP is trading around $2.22, hovering just below the neckline resistance at $2.33. XRP analysts chart. Source: Ali Martinez The setup, clearly visible in recent price action, includes a left shoulder formed in mid-June, a deeper head that developed in the final week of the month, and a right shoulder now in the making. A breakout above the neckline with strong volume would confirm the pattern and open the door to Martinez’s upside target. XRP price analysis Momentum indicators such as RSI are leaning bullish, and volume has been ticking higher during recent upward moves, both supportive of a potential breakout. Key Fibonacci extension levels also suggest the next resistance zones lie at $2.47, $2.54, and the full breakout target of $2.65. This bullish formation comes as the token continues to benefit from positive headlines. Ripple’s recent application for a U.S. national banking license and growing speculation around the approval of an XRP ETF have reinforced investor confidence. If bulls manage to push XRP above $2.33 with conviction, it could mark the beginning of a fresh rally. However, failure to break through may lead to a retest of the $2.08–$2.12 support zone. The post XRP charts bullish reversal pattern as analyst eyes breakout to $2.65 appeared first on Finbold .

Source: Finbold