XRP on the Brink: Nine-Year Support and Key Resistance Set Stage for $10 Breakout
Technical analyst ChartNerd highlights that XRP’s nine-year ascending support trendline is back in play, with price now approaching a potential third major Point of Confluence (POC) on this historic structure.
The previous two touches of this long-term support triggered explosive upside expansions, and current price action suggests history could be setting up to repeat itself.
Since 2017, XRP has held its macro ascending trendline, serving as a resilient backbone through deep drawdowns and extended consolidations. The asset now compresses against this support, building pressure.
With weekly and monthly RSI dipping below 2020 lows, signs point to a potential bottom and reversal.
Multi-Year Resistance Could Spark Next Macro Rally
All eyes are now on the white descending resistance trendline as shown in the above chart, which has long capped upside attempts.
Representing years of lower highs and sustained selling, this barrier is being tested as volatility compresses and higher lows emerge along macro support, signaling a potential shift in market dynamics.
Well, a confirmed breakout above this descending resistance would mark a structural shift from contraction to expansion. XRP is coiling within a multi-year wedge, a setup often preceding explosive moves.
If bulls flip the trendline into support, momentum could surge as sidelined capital floods back. The token’s rise to a five-week sentiment high defies the broader gloom weighing on Bitcoin and Ethereum.
ChartNerd notes that a confirmed breakout could “open the gates for euphoria.” Historically, XRP has compressed years of gains into short bursts during expansion phases. Bullish scenarios are eyeing $10, a key psychological and structural milestone.
This outlook depends on validation: until descending resistance is decisively broken with strong volume, the structure remains in consolidation.
Yet, respecting nine-year ascending support while tightening beneath resistance sets the stage for a potentially powerful breakout.
Markets move in cycles, and XRP’s long-term chart hints it may be nearing a return to expansion. If history holds and support stays intact, a breach above resistance could spark the next major macro leg, turning skepticism into euphoria.
Conclusion
XRP’s chart is signaling a potentially historic moment. Nine years of ascending support remain intact, while descending resistance nears a critical test.
Therefore, a confirmed breakout could trigger a multi-year upward cycle, with $10 in sight.
Source: https://coinpaper.com/14810/xrp-price-prediction-after-defending-9-year-lifeline-is-the-road-to-10-about-to-explode
