Well-known crypto market analyst Francis Hunt, also known as The Market Sniper, has shared a bullish outlook on XRP, highlighting key technical patterns and support levels that suggest a breakout may be approaching.
Despite XRP’s current range-bound behavior, Hunt remains optimistic about the token’s long-term trajectory.
A $3.36 Peak Perfectly Called
Hunt began by reflecting on a past call his team made, correctly forecasting XRP’s peak at $3.36. The prediction played out as expected, with the token pulling back sharply from that level. Since then, XRP has been forming a falling wedge pattern, which is typically considered a bullish reversal setup.
“Falling wedges usually resolve to the upside,” Hunt said, adding that XRP’s current setup aligns with that historical behavior.
Why the $2 Zone Is Crucial
One of the most critical areas to watch, according to Hunt, is the $2 support zone. Although XRP has dipped slightly below this level on occasion, buyers have consistently stepped in to defend it.
“There are strong hands at $2,” Hunt noted, suggesting institutional or long-term interest is anchoring price action in that area.
Hunt emphasized that if XRP dips just below $2 again, it may offer what he calls “one or two lucky fills” — a chance to re-enter before a potential rally.
Strategy Going Forward
While Hunt confirmed he took profits near the $3.36 high, he’s actively monitoring the wedge structure for signs of breakout confirmation. His analysis indicates that XRP could be gearing up for a major move, especially if it maintains strength above the $2 range.
For traders watching XRP, Hunt’s technical read suggests accumulation and patience may be key heading into the next major leg up.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/xrp-price-setup-signals-imminent-breakout-says-market-sniper-francis-hunt/