XRP Bullish Breakout Predicted, Targeting 93% Gain by April

Crypto analyst CryptoBull has shared a bullish forecast for XRP, predicting a significant price breakout based on long-term chart patterns. The analyst identified a bullish falling wedge on the 1-day XRP chart, which is often interpreted as a sign of weakening downward momentum and potential upside breakout. This pattern is further supported by a broader bullish triangle that encompasses all the candle wicks, indicating strong long-term accumulation and consolidation.

The convergence of these two structures enhances the credibility of the forecast. According to the analyst, once XRP breaks above the wedge’s resistance line, a price move up to $5 is likely, though the final daily close may settle closer to $3.85. This forecast is based on the measured move technique, which involves projecting the vertical height of the triangle or wedge upward from the breakout point. The analyst has set the timeline for this bullish action to occur by the end of April.

Other analysts have also predicted a move to $5, and CryptoBull’s projected price range appears to be derived using the measured move technique. This involves taking the vertical height of the triangle or wedge and projecting it upward from the breakout point. It’s a standard method used in chart analysis to estimate potential price targets following a confirmed breakout. While the breakout has not yet occurred, XRP is positioned near the upper trendline of the wedge, suggesting that a resolution is close. A confirmed breakout would require a strong daily close above this line, ideally supported by an increase in trading volume.

The digital asset is currently trading at $2.08. Notably, CryptoBull has been tracking this falling wedge for weeks, and with the asset close to a breakout, we could see a new all-time high soon. The analyst's forecast adds to a growing body of technical analysis pointing to a potential move in XRP. Recent analysis suggests the asset could reach as high as $70, and CryptoBull’s chart does not rely on speculation but instead uses well-established charting principles to support the forecast. For traders and investors, the setup offers a defined technical scenario to monitor over the coming days.