Recent price changes in XRP have caught traders' attention, following analyst John Squire's indication of an important technical signal that might suggest the beginning of significant growth for the token.
Market Overview of XRP
XRP has demonstrated a steady rise over the past three days, moving from the upper $2.90 range to the low-$3.10s on major exchanges. As of report time, the token is trading at $3.17, highlighting a notable increase as pointed out by Squire.
Technical Analysis and Pattern Importance
A descending triangle often indicates bearish continuation, but if the price breaks the resistance line, it could trigger a significant bullish reversal. Analysts following this setup estimate initial upside targets around $3.60, with extended projections reaching into the mid-$3 range.
What Investors Should Watch?
Volume remains the deciding factor. A breakout supported by above-average trading activity typically signals genuine demand, while a thin-volume move risks a swift reversal. Key supports lie near $2.90–$3.00; a decisive drop below that range would weaken the bullish outlook.
John Squire's analysis has highlighted a potential turning point for XRP. The upcoming days will reveal whether this movement will lead to new highs or establish a support level again.
