XRP/USDT: Triangle Breakout Setup With 13% Upside Potential

XRP appears to be forming a symmetrical triangle pattern after recent consolidation. The price is currently at a critical decision point with several technical factors suggesting a potential upward breakout:

Technical Analysis
Price is currently testing the lower boundary of the symmetrical triangle at $2.3482
EMA alignment shows bullish potential: 5-period ($2.3608) > 10-period ($2.3676) > 20-period ($2.3675)
RSI (14) at 43.53 indicates room for upward movement before reaching overbought conditions
Volume profile (672.64K) shows accumulation during this consolidation phase

Trade Setup
Entry Zone: $2.3450-$2.3550 (current price area)
Target 1: $2.5000 (psychological resistance)
Target 2: $2.6637 (projected from triangle breakout measurement)
Stop Loss: $2.2288 (below recent support)

Rationale

This trade capitalizes on the triangle pattern completion with confirmation from EMA support.

The projected move could represent approximately 13% upside from current levels. The risk-to-reward ratio is favorable at roughly 1:3.

Key timing appears to be critical now as we approach the apex of the triangle. A sustained move above the 20 EMA would confirm the bullish scenario, while failure to hold current support could invalidate this setup.

Wait for volume confirmation on the breakout before committing significant position size.