- XRP price is contained inside a symmetrical triangle pattern on the 12-hour chart.
- XRP whales have recently bought a lot of XRP, increasing buying pressure.
- Only one key resistance level separates XRP from a 42% breakout toward $0.83.
XRP price is one barrier away from $0.82
On the 12-hour chart, XRP has formed a symmetrical triangle pattern with its resistance trendline established at $0.584. A breakout above this critical point will quickly drive XRP price towards $0.82, a 42% move calculated using the height of the pattern as a reference point.
This breakout seems to be more likely because of a significant increase in XRP whales. The number of holders with at least 10,000,000 XRP spiked by five in the past 24 hours. Additionally, the amount of other large holders with 1,000,000 to 10,000,000 XRP has also risen from 1,175 on March 22 to 1,194 at the time of writing.
However, a rejection from the upper trendline resistance at $0.58 would be significant. XRP price could quickly fall towards the lower boundary of the pattern at $0.455.