Plunge

Resistance

Chainlink

<p>XRP has shown indications of immense bullishness, according to leading analyst JD, but some caveats remain.</p>
<p>Ripple’s native token has officially broken out of a <strong>multi-year resistance trendline</strong> when viewed on standard (non-logarithmic) scales, <a href="https://twitter.com/jaydee_757/status/1734254489698505143" target="_blank" rel="noopener noreferrer nofollow">according to JD</a>.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="545" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-339-1024x545.png" alt="" class="wp-image-397385" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-339-1024x545.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-339-300x160.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-339-766x408.png 766w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-339-1536x818.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-339-2048x1090.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-339-282x150.png 282w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-339-100x53.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-339-657x350.png 657w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-339-788x419.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-339.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Successfully retesting prior resistance as new support would confirm XRP has entered a new bull regime after years of rangebound price action stemming from the ongoing SEC lawsuit over token sales. However, failing to hold the breakout upon retesting this trendline could indicate a head-fake.&nbsp;</p>
<p>So while extremely encouraging for long-suffering <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> investors, more confirmation is still required before sounding all-clear, according to the analyst. Losing bullish momentum here could quickly lead to disillusion.&nbsp;</p>
<p>It’s an adage as old as investing itself: breakouts must be confirmed. XRP seems poised for big moves after prolonged stagnation, but only backtesting the broken multi-year trendline as support will confirm the next bull wave is truly underway.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/polygon-matic-whales-make-mystery-moves-amid-price-plunge/" target="_blank" rel="noopener noreferrer nofollow">Polygon (MATIC) Whales Make Mystery Moves Amid Price Plunge</a></li>
 <li><a href="https://captainaltcoin.com/chainlink-link-signals-breakout-with-eyes-set-on-this-key-resistance/" target="_blank" rel="noopener noreferrer nofollow">Chainlink (LINK) Signals Breakout with Eyes Set on This Key Resistance</a></li>
 <li><a href="https://captainaltcoin.com/battle-for-attention-new-cryptocurrencys-presale-versus-dogecoins-anticipated-surge/" target="_blank" rel="noopener noreferrer nofollow">Battle for Attention: New Cryptocurrency’s Presale Versus Dogecoin’s Anticipated Surge</a></li>
</ul>
<p>Traders must stay nimble amidst such uncertainty rather than assume a straight-line moonshot. As JD notes, managing expectations remains crucial to avoid bad decisions.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy thetrades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/ripple-xrp-breaks-key-trend-indicating-bullishness-analyst-cautions-further-confirmation-needed/" rel="noopener noreferrer nofollow">Ripple (XRP) Breaks Key Trend Indicating Bullishness: Analyst Cautions Further Confirmation Needed</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ripple (XRP) Breaks Key Trend Indicating Bullishness: Analyst Cautions Further Confirmation Needed

Table of Contents

CaptainAltcoin

Other articles published on Dec 12, 2023

GAMEE | An Exciting New Chapter for GMEE: Now on Bitget, Coinstore, and BTSE!

A New Listing Announcement Came from Bitcoin Exchange Binance!

Crypto Daily Roundup, 12: U.S. Data Unleashes Waves of Market Tension

Polygon Portal Goes Live, What's in It for MATIC?

SOL Tests Key Support Level, Could the FOMO Be Coming to an End?

The crypto market gains over $40 million in a week, with Bitcoin leading

Join our free newsletter for daily crypto updates!