Recent market analysis has revealed a noteworthy potential bullish pattern forming in the XRP /USDT trading chart, pointing toward an expected price surge for XRP . The cryptocurrency has recently passed a critical resistance level at $0.6649, demonstrating strength with two consecutive daily closes above this threshold. This breakout could signify the beginning of a “bull flag” formation, a technical pattern indicating the likelihood of upward price movement after a brief consolidation period.
The bull flag pattern typically occurs when an asset experiences a rapid price increase followed by a narrowing trading range that slopes downwards. In the case of XRP , the initial surge occurred as the price climbed sharply from $0.52 before breaking the $0.6649 resistance. Should XRP maintain its momentum, further progress toward a price target of $1.03 is anticipated, contingent on overcoming immediate resistance levels around $0.7496. Achieving regular touches or minor closes above this figure — potentially reaching $0.76 — will be crucial for maintaining a bullish trajectory.
Technical indicators such as the Relative Strength Index (RSI) further bolster this analysis, currently positioned in overbought territory at 84. While a high RSI often signals that a temporary price consolidation may occur as traders take profits, it can also indicate robust underlying market momentum. As a result, completion of the anticipated consolidation phase might lead to a breakout, allowing XRP to strength further.
The analysis also incorporates Fibonacci retracement levels, fundamental tools for anticipating areas of support and resistance. With the $0.6649 level now firmly surpassed, it could act as a significant retracement point, while possible draws below this level may shift focus to lower Fibonacci levels at $0.6044 and $0.5286 for potential support.
At the time of the report, XRP was trading at approximately $0.8165, representing a 17.7 percent increase in the past 24 hours, per CoinMarketCap data, and poised for the possibility of additional gains if bullish conditions are met.
