XRP Nears Key Breakout as Analyst Eyes $2 Target: But Here’s the Catch

The analyst sees the 50-week EMA as the dividing line, with multiple closes above it needed to strengthen the bullish continuation case. XRP is still stuck in a narrow range of around $1.46-$1.56, but an analyst has said that the compression may be about to break into a bigger move. If the token can break out and hold its resistance, the analyst predicts a bullish path to $1.80-$2, but if it dumps below support, it could drop down to the low $1.30s or worse. XRP Remains Trapped Between Support and Resistance In a video shared on October 7, ChartNerd described XRP’s current structure as neutral, with price squeezed between descending resistance and horizontal support. The token has spent about a week trading between $1.46 and $1.56 after failing to reclaim its previous $1.70 high, leaving a lower high beneath the earlier peak. Previous upside wicks have also produced false breakouts, making confirmation especially important. As such, ChartNerd wants to see XRP break resistance, return to test that level as support and then push through the local high before treating the move as a confirmed continuation. A breakout could matter because the market is already sitting close to several t...