Crypto analyst Arthur has published a tweet highlighting a potential breakout for XRP, indicating the asset is breaking above its long-held downtrend line on the daily chart. He attributes this move to the recent compression phase of the price and anticipates that it may signal a trend shift. 🚨 $XRP BREAKOUT ALERT 🚨
Arthur noted the significant move in prices after weeks of price compression, indicating a clear shift from downward pressure to upward momentum. His tweet includes a chart highlighting the breakout with a circle marking the precise point of change. He plans to watch for confirmation through daily candle closure.
The technical setup aligns with Arthur’s bullish outlook as he sees XRP’s recent candlestick movement place the price above the established downtrend line, potentially signifying a fundamental shift in market structure.
Arthur further connects the breakout with broader factors beyond technical analysis. He emphasizes an anticipated Federal Reserve rate cut and upcoming ETF deadlines in October, suggesting these events could influence momentum and market activity. He points to both macroeconomic and fundamental drivers as potential catalysts for sustained price growth.
Specific targets are identified. Arthur outlines a first target range of $3.40-$3.50 if the breakout sustains. If momentum persists, XRP might reach levels above $4.00. These targets represent achievable goals based on continued price strength, contingent upon sustained confirmation and market follow-through.
However, while Arthur highlights potential breakout, his tweet emphasizes a cautious approach. He reminds readers that breakouts above resistance require confirmation through both candle closures and consistent volume. Retests of the breakout area are common, as false breakouts can occur if momentum weakens. The outlook remains conditional on sustained buying pressure and external market developments.
It’s important to note this content is intended for informational purposes only and should not be considered financial advice. Readers are advised to conduct thorough research before making any investment decisions.