Summary
TLDR: XRP price has reclaimed a long-term support trend line and is close to breaking out of a descending channel. Analysts predict a bullish trend with potential for a breakout to $0.72, but a rejection could lead to a drop to $0.46. Daily and weekly technical analysis support the bullish outlook for XRP.
Key Points
1. The XRP price reclaimed a long-term ascending support trend line and has nearly broken out from a descending parallel channel.
2. The XRP price traded without significant volatility in 2023. Will this change in 2024?
3. The XRP price has increased alongside an ascending support trend line since October 2022, with the weekly Relative Strength Index (RSI) not confirming the bullish reversal yet.