On the daily price chart, the token is forming a symmetrical triangle that has narrowed to its final stages, while XRP is currently testing the possibility of a volatility-fueled breakout. That the asset is pushing toward the upper boundary of the formation and trading in the green today suggests that a bullish breakout may be on the horizon. Breakout not enough Although momentum and volume are what really dictates the breakout direction, a symmetrical triangle is usually considered a continuation pattern, rather than a directional one. XRP is in an upward trend, which could be a sign that momentum will continue after the breakout. Right before or during an attempted breakout, XRP would be at its most vulnerable if it were to reverse significantly right now. By trapping late buyers and possibly starting stop-loss cascades that could hasten a decline, such a move would invalidate the bullish structure. A symmetrical triangle breakout requires a spike in volume right at the breakout point in order to generate the type of volatility expansion traders anticipate. What can save it Price acceleration is driven by volume, which reflects the real participation driving the movement. Compared to the spike periods we saw during the earlier phases of XRP's rally, the current volume levels are still rather muted. Because of this, there is a risk that the move will not gain traction even if the price breaks above the upper trendline without a corresponding volume surge. Strong volume on the breakout could start a new bullish leg for XRP and draw swing buyers and momentum traders. On the other hand, a corrective phase may begin with a weak-volume breakout or an abrupt reversal from current levels.
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