XRP Price Breakout Targeting $2.40 as the Token Climbs 20.11% in Seven Days

Despite the multiple positive regulatory developments, the economy-wide tariff shocks prevailed, sending XRP below its critical support levels near $2 and into an uncertain future.

Despite the multiple positive regulatory developments, the economy-wide tariff shocks prevailed, impacting cryptocurrencies and sending XRP below its critical support levels.

Recently, however, the token has managed to stabilize and is now heading back into a rally that is, according to an April 14 X post by the prominent on-chain analyst Ali Martinez, on track to reclaim $2.40.

Indeed, XRP is, at press time, within an ascending triangle and likely to enjoy a bullish breakout if it successfully breaches a strong resistance at $2.22. Currently trading at $2.16, XRP is only 2.78% away from testing the $2.22 resistance that could help it rally 11.11% and hit $2.40.

Good morning.

Yesterday, I shared that #XRP is testing the support at $1.75 ahead of a potential bounce to $2.40.

Now, it's getting interesting as a triple top is forming at $2.22, which could propel XRP to $2.40.

Volume is increasing on each touch of the resistance. An interesting move to watch.

$2.14 is the current price.

$2.22 is the triple top.

$2.40 is the measured move.

We're also seeing an ascending triangle forming, which is a bullish chart pattern that occurs when an asset's price trades in a triangle and breaks out of the pattern on higher volume.

The breakout of the ascending triangle is likely to propel XRP to the triple top at $2.22, where another surge in volume could ignite the move to $2.40.

An interesting chart to follow today.

What are your thoughts?

Let me know in the comments section below.

I wish you a profitable trading week.

Regards,

Ali