Cryptocurrency analyst ChartNerd has reinforced a bullish stance on XRP, signaling that the token is entering a critical re-accumulation phase above key support levels, which could precede a substantial price surge. The analysis highlights a consolidation range between major support at $1.99 and overhead resistance at $3.31, with the 55-week exponential moving average (WEMA) around $2.20 serving as a pivotal momentum indicator.
ChartNerd's monthly chart setup, first highlighted in October, shows XRP maintaining higher lows since 2022, forming a solid base that aligns with historical patterns from 2017 and 2021. The token recently retested the 55 WEMA in early November, confirming a predicted move, and is now trading at $2.48, up 8.1% in the past 24 hours. Technical projections indicate that sustained closes above $2.49 could trigger a breakout, with immediate resistance at $2.70 and higher targets at $3.00, $3.60, and $4.00.
Volume dynamics and structural growth suggest strengthening momentum, with the re-accumulation zone often attracting institutional interest. A successful hold above $3.31 could mark the start of a new bull cycle, while failure to maintain support might lead to extended consolidation. ChartNerd's message to 'get ready' underscores the potential for rapid gains, drawing attention from long-term holders and traders.
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