XRP 12-Month Chart Analysis: Bullish Momentum or Retrace Before XRP 12-Month Chart Analysis: Bullish Momentum or Retrace Before the Breakout?
Let’s talk about the 12-month chart for XRP. The current candle for 2024 (marked by the white arrow) is in a critical position, and it presents two likely scenarios:
Scenario 1 – Straight Breakout to All-Time Highs (ATH):
The candle continues to rise, building momentum to break through previous all-time highs and push into uncharted territory. This would represent a continuation of the bullish market structure we've been observing.
Scenario 2 – Retrace Before the Breakout:
Alternatively, the current candle could close with a pullback, leading to a new candle in 2025. This new candle might retrace into key liquidity zones or "order blocks," where support and buying volume typically accumulate.
If this happens, the market would gain stronger support and buying pressure.
Once the price breaks above the high of 2024, it could retest that level, confirming support, before continuing to all-time highs.
This second scenario, while slower, could produce a much stronger bullish structure with more sustainable growth.
Why It Matters:
Both scenarios are bullish.
A pullback and retest (Scenario 2) would create a stronger foundation for the next leg up, ensuring healthier volume and momentum.
The overall market structure for crypto remains bullish, and XRP is no exception.
Key Takeaway:
Whether the 2024 candle continues upward without retracing or takes the time to build support with a pullback, the end result aligns with the broader bullish trend of the crypto market. Patience is key here. As long as the market holds structure and volume builds, XRP remains on track for significant gains.
Remember, this is a 12-month chart, so patience and zooming out are essential to see the bigger picture. Let the structure develop and flow naturally.
What do you think? Are you Team “Breakout Now” or Team “Retrace for a Stronger Run”?
