XRP Price Poised for $2.00 Breakout with ETF Approval? Analysts Weigh In

• XRP’s rising lower trendline at $0.44 indicates strong support since mid-2020, crucial for its bullish bias.
• Breakout above $0.60 resistance could propel XRP to $2.20, mirroring early 2021 highs.
• MACD signals hint at waning momentum but potential for a trend reversal, sparking anticipation for a breakout.

The anticipation surrounding the potential approval of the XRP ETF is causing ripples of excitement within the cryptocurrency community as highlighted by Captain Faibik, an analyst. With key support and resistance levels in focus, traders are closely eyeing the dynamics of this digital asset, poised for a potential breakout.

What if the $XRP #XRP ETF is Approved next? pic.twitter.com/TnbBpICWfK

— Captain Faibik (@CryptoFaibik) May 24, 2024

Support levels serve as critical thresholds, providing floors for price action during market fluctuations. Among these, the rising lower trendline stands prominently, currently hovering near the $0.44 mark. Since mid-2020, this trendline has steadfastly bolstered XRP’s value, underpinning its bullish bias.

Conversely, resistance levels pose formidable barriers to price advancement, requiring breakthroughs to valida…

The post XRP Price Poised for $2.00 Breakout with ETF Approval? Analysts Weigh In appeared first on Coin Edition.