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">
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<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>
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<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>
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<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

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CaptainAltcoin

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