Assessing XRP’s Breakout: Will the Bulls Reclaim $2.6?

XRP has broken above its 2-month descending triangle following a tug of war around the $2.0 zone over the past 2 days. What’s the next target?

XRP bulls are showing signs of strength following a strong price battle around the $2.0 zone amid long-standing bearish pressure. For the past two months, XRP bears have been in control, pulling the price down below $2.0. However, the market sentiment appears to cross a bullish zone, hinting at a potential price reversal.

XRP’s breakout on the chart

Looking at the 1-day chart, XRP appears to have broken out of a 2-month descending triangle pattern formation. The breakout candle shows strength with over 3.2 million in volume as buyer conviction rises. Following the breakout, analysts have noted that XRP bulls must hold above $ 2.02 to sustain the bullish momentum and potentially spark the coin’s uptrend rally.