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XRP is trading at $2.43, a slight decline of over 1% in the past 24 hours, and is retesting the 20-day exponential moving average (EMA) at $2.388 as a support level, shows the data from CoinMarketCap . If this support level holds firm, XRP could potentially aim for the $2.60 resistance level in the near term. Successfully reaching this level might attract increased buying interest from investors and traders. Crypto analysts are closely observing a long-term technical pattern that indicates the possibility of a significant rally for XRP. A bullish and rather far-fetched projection of $1,452.81 has been outlined based on the breakout of a multi-year “bull flag” pattern. Crypto analyst “Steph is Crypto” has shared a chart on X , highlighting this bullish scenario. According to the analysis, XRP has been consolidating within a downward-sloping channel since 2018. The recent breakout from this long-term structure suggests a potential shift in the token’s price momentum, potentially setting it up for an exponential rally. The analyst suggests that, based on the flagpole projection, XRP could see a parabolic rise towards the $1,452.81 price target over the course of the coming years. In the shorter term, crypto analyst Dom has emphasized the importance of XRP maintaining a price level above $2.50 to sustain its current bullish momentum. He describes the current price structure as “very constructive,” indicating that a stable hold above this level would be a positive signal for buyers in the market. Related: Banks on XRP Ledger? Aberdeen & Societe Generale Eye Tokenization Adding to the technical analysis, a symmetrical triangle pattern is also forming on longer timeframes for XRP. This type of pattern is generally considered bullish and typically appears after a price rally followed by a period of consolidation. If XRP manages to successfully break out above the upper trendline of this symmetrical triangle, it could potentially rally towards a price target of $4.20 by May. Related: Ripple CTO Fires Back at IMF’s Claim, Insists XRP Doesn’t Qualify as a Security The Relative Strength Index (RSI) is currently at 51.44, which indicates neutral momentum in the market for XRP. However, an increase in the RSI above the 55-60 range could signal renewed buying pressure and a potential upward trend. Moreover, XRP’s price is currently testing the midline of the Bollinger Bands (BB ) at $2.3428. If XRP moves decisively above the upper band of the Bollinger Bands, which is currently at $2.6078, it could indicate increased volatility and strengthening bullish momentum. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.