XRP climbs 4% as breakout hopes grow
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- XRP (CRYPTO:XRP) rose about 4% as traders watched a key chart pattern.
- Analysts said a breakout could lift XRP towards US$1.35 if buying continues.
- The move came as broader crypto market sentiment improved.
XRP (CRYPTO:XRP) gained about 4% as traders watched a triangle pattern that could signal a bigger price move.
Analysts said a break above the pattern could push XRP towards US$1.35 if buying momentum continues.
"The triangle breakout is attracting traders looking for the next move higher," market analysts told CoinDesk.
The price increase came as Bitcoin (CRYPTO:BTC) and other major cryptocurrencies also traded higher.
Analysts warned that XRP must hold above key support levels to keep the bullish setup intact.
Technical traders often watch triangle patterns because they can signal strong moves after long periods of consolidation.
The next major test for XRP will be whether buyers can keep the price above the breakout level.
At the time of reporting, XRP price was $1.15.
