In particular, the analysis from World of Charts indicates that the token has recently confirmed a breakout from a consolidating bullish pennant range. This breakout, coupled with a sharp increase in trading volume, fuels expectations that XRP could rise to $4 within the next few days, representing a potential gain of 68% from its current price.
The bullish pennant breakout signals a recovery in XRP's price momentum, which is often associated with significant rallies. For the rally to continue, XRP must regain its critical support level at $2.40, which currently serves as a key technical level.
However, the token is expected to encounter intermediate resistance levels at $3 and $3.50, which may test its upward momentum. If these levels are breached, XRP is likely to accelerate towards the target mark of $4.
In addition to the growing bullish sentiment, several well-known analysts have expressed optimism about XRP reaching new highs in the near future.
An expert under the pseudonym The Great Mattsby noted that XRP could exceed $2.70 within a few days or weeks, as supported by Fibonacci retracement analysis. Mattsby's forecast further strengthens the case for XRP's upward momentum.