Aiming for a Breakthrough: Bullish Sentiment on XRP Pushing Towards a Potential $2.94 Jump for Further Growth

In a recent market update, cryptocurrency analyst Xaif Crypto from CRYPTOWZRD has identified potential upside potential for XRP and XRPBTC. According to the analysis, a decisive breakout above $3.65 could mark a pivotal moment for XRP, paving the way for a new all-time high.

The analysis suggests that this move would come from a double-bottom formation visible on the daily chart of XRP. However, the intraday chart of XRP is currently moving sideways, showing no clear direction in the short term. If XRP continues to hold below the $2.94 level, more sideways volatility is likely in the near term.

The key to XRP's potential short-term movement lies in XRPBTC, according to CRYPTOWZRD. If XRP turns bullish, it would not only trigger momentum but also allow the asset to break out of its daily lower-high trendline. This scenario could provide the fuel needed for XRP to shift out of consolidation and begin a more impulsive upside run.

The potential breakout in XRPBTC is critical because it could extend to XRP's price action. CRYPTOWZRD suggested that a breakout from the symmetrical triangle formation of XRPBTC could be triggered if XRPBTC moves bullishly. This scenario could provide the necessary push for XRP to break out of its current range.

CRYPTOWZRD also highlighted $3.65 as the next significant resistance level to watch. Should Bitcoin dominance weaken further, it would likely give XRPBTC the strength it needs to move bullishly. With these confluences aligning, the technical setup appears increasingly favorable for a strong push to the upside.

It is important to note that CRYPTOWZRD's analysis does not specify a specific timeframe for the potential upside rally. Additionally, the analysis does not consider other factors that could influence the price of XRP, such as market sentiment or regulatory changes.

CRYPTOWZRD concluded the analysis by emphasising that both the daily candles of XRP and XRPBTC closed indecisively. The analyst ended the session with an indecisive close, and the market will need to provide more clarity in the coming days to confirm the potential upside rally.