According to Block Bull, if the setup plays out, XRP could surge toward $3 before the U.S. Federal Reserve announces its next policy decision this Wednesday.
Key Highlights:
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Current chart position: XRP is trading around $2.63, having broken above the neckline—an important sign confirming the potential continuation of its upward trend.
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Next resistance level: Approximately $3.09, seen as the next major hurdle for the token.
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Positive market sentiment:
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FutureChain described the pattern as “solid,” calling the $3 target “bold but achievable” if momentum persists.
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Another trader, PRITAM07, expects XRP to hit $2.70 in the short term before rising to $3 by Thursday.
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Technical Outlook:
The inverse head-and-shoulders formation often signals a shift from a downtrend to an uptrend once the neckline is broken. On Block Bull’s chart, XRP appears to have completed this breakout, forming higher lows and showing stronger bullish momentum.
If the rally continues, the $3 level could mark an important recovery milestone, potentially setting the stage for a broader uptrend after weeks of consolidation.
Ahead of the Fed Meeting:
The timing of this move adds to the intrigue, as Fed meetings often influence risk assets, including cryptocurrencies, through shifts in monetary policy sentiment.
Analysts note that if the macro environment remains stable, XRP could maintain its technical strength. However, short-term volatility around the Fed announcement remains a possible risk factor.
Overall, the inverse head-and-shoulders breakout has reignited optimism among XRP traders, with $3 emerging as a key psychological target as the market awaits the Fed’s decision.
