- XRP price had a breakout from a bull flag on the 4-hour chart.
- The digital asset faces basically no clear resistance levels until $2.
XRP price has triggered a massive breakout without any news behind it after trading sideways for the last four days. The coin behind Ripple touched $1.597 and is aiming for a price target of $2 in the longer term.
XRP price explodes by 15% and aims for more
XRP formed a bull flag on the 4-hour chart in the last week from which it has triggered a massive 15% breakout toward $1.59. The digital asset is aiming for a price target of $2, calculated by measuring the height of the pole and adding it to the breakout point.
XRP/USD 4-hour chart
Additionally, on the 12-hour chart, XRP broke out from a descending triangle pattern which can be drawn by connecting the lower highs with a trend line that connects to a horizontal trend line of the several similar lows.
XRP/USD 12-hour chart
The breakout of this pattern has a similar price target at $2.02. This one is calculated by measuring the distance between the lower trend line to the beginning of the upper one and adding it to the breakout point.
However, as it is common with these kinds of breakouts, XRP price could see a pullback in the short-term to re-test the previous resistance trend line which should act as a support point. This means that XRP could drop toward $1.30 in the near term.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks

Pi Network rally halts under $0.80 as traders speculate about upcoming ecosystem announcement
Pi Network’s recent price action sends multiple buy signals, but resistance under $0.80 appears to be capping the uptrend. The Pi Network team teases a major announcement on May 14, fueling speculation and trader interest on the coin.

Bitcoin Weekly Forecast: BTC bulls aim for $105,000 after nearly 10% weekly gains
Bitcoin price stabilizes around $103,000 on Friday after rallying nearly 10% this week. Risk-on sentiment prevails as Trump announced a trade deal with the UK and ahead of the meeting with China this weekend.

Dogecoin price jump above $0.20 triggers $13 million in liquidations
Dogecoin price edges higher after stepping above $0.20 and climbing to trade around $0.21 at the time of writing on Friday. The leading meme coin's uptrend mirrors a broad-based bullish wave in the market, triggered by the trade agreement between the US and the UK on Thursday.

XRP price could hit $3 on $50M SEC settlement
Ripple and the SEC strike a $50 million settlement agreement pending judicial approval. A joint motion in the US District Court aims to lift Ripple’s injunction and release $125M in escrowed penalties.

Bitcoin: BTC bulls aim for $105,000 after nearly 10% weekly gains
Bitcoin (BTC) price is stabilizing around $103,000 at the time of writing on Friday after rallying nearly 10% this week.