XRP Price Action Compression Forces Imminent Resolution Toward $1.3792

A daily close above the SMA 50 at $1.3792 is required to confirm a breakout from the symmetrical triangle that has compressed XRP price action since early March. A confirmed breakout above this level opens $1.5625 as the next target. Price was $1.3575 on April 14. The market has been in the state of indecision since March, with price action trapped between an upper descending trendline connecting February highs above $1.60 and a lower ascending trendline running from March lows around $1.20. This compression coincides with a daily MACD bullish crossover, with the histogram reading +0.0060 for the first time since the pattern began. A sustained move above $3.65, a resistance level that has existed for 8 years, would shift the market structure into a new phase with open space above prior highs. This threshold sits near XRP's all-time high of $3.65, and price action above this threshold could lead to a new all-time high or a double-digit price.