$XRPhas closed above a parallel channel and a symmetrical triangle pattern across multiple timeframes amid the ongoing uptrend.

$XRPhas made a strong comeback, breaking above two important technical patterns across multiple timeframes. Specifically, on the 3-day chart, the price closed above a parallel channel, while on the daily chart, it closed above a symmetrical triangle. This confirms that momentum has changed in favor of the bulls.

xrp symmetrical triangle breakout math - XRP Closes Above Parallel Channel and Triangle Across 1D and 3D Charts: What Comes Next?

Key Points

  • $XRPrecently broke above a parallel channel on the 3-day chart when it conquered the $1.51 level, after spending over a month trading within the structure.
  • The $XRPprice also pushed above a symmetrical triangle on the daily chart, representing a larger pattern that had been forming since $XRPfell from its $2.40 high on Jan. 6.
  • To keepboth breakouts validamid the current pullback, $XRPmust hold above $1.51 for the parallel channel and above $1.40 for the symmetrical triangle.
  • If $XRPsuccessfully defends both levels, analysts see $1.65 as the next upside target.
  • The +DI on the daily DMI sitsat 33.9 while the -DI standsat 22.59, confirming short-term bullish momentum, butthe ADX indicates a weak trend.

$XRPEscapes Parallel Channel After Month-Long Consolidation

For context, the 3-day parallel channel that had kept $XRP’s price locked in a tight range since early February. The channel had an upper boundary at $1.51 and a lower boundary at around $1.34.

xrp symmetrical triangle breakout math - XRP Closes Above Parallel Channel and Triangle Across 1D and 3D Charts: What Comes Next?

Notably, $XRPfell into this channelafter dropping from $1.93 on Jan. 28 and spent over a month bouncing between these two levels before finally breaking out. During this period, the $1.51 level kept pushingthe price back down each time bulls triedto break higher, while the $1.34 level absorbed every attempt by bearsto drive the price lower.

$XRP 3D Parallel Channel" src="https://cnews24.ru/uploads/3a0/3a0f473200fe196ed39c13cd366242af6f2a1618.jpg" alt="$XRP3D Parallel Channel">$XRP3D Parallel Channel

Specifically, bulls made a run at the upper boundary between Feb. 12 and 15, when $XRPclimbed from $1.36 to a high of $1.67 by Feb. 15, briefly clearing the $1.51 resistance. However, the move did not last, and $XRPsoon fell back below $1.45 without managing a clean close above the channel.

After the failed attempt, bears took control from Feb.24 to March 8 and repeatedly tried to push the price below the $1.34 support.Nonetheless, buyers stepped in each time, and the lower boundary held on every test.

The most recent recovery has now ended the bear campaign, with $XRPclosing above the upper boundary. At the time of writing, $XRPchanges hands at $1.52, holding above the channel even after pulling back from a recent high of $1.60.

$XRPBreaks Above Symmetrical Triangle

Meanwhile, the daily chart reveals an equally bullish development. On Monday, March 16, $XRPbroke and closed above a symmetrical triangle during the ongoing rally.

This triangle represents a larger pattern that began forming after $XRPfell from its $2.41 high on Jan. 6. Throughout the triangle’s formation, $XRPnever once pushed above its upper boundary, until this breakout.

$XRPDaily Symmetrical Triangle

The lower boundary faced three downside tests instead, with the price dropping to $1.11 on Feb. 6, $1.27 on Feb. 28, and $1.32 on March 8. Buyers defended the lower boundary on all three occasions. The current rally marks the first time $XRPhas broken upward out of this pattern, and the price still holds above the triangle at the time of writing.

What Comes Next?

Now that both breakouts are in place, the next test is whether $XRPcan hold these levels as the pullback continues.

Notably, to keepthe parallel channel breakout intact, the price needs to stayabove $1.51.Meanwhile, to preserve the symmetrical triangle breakout, $XRPneeds to hold above the triangle’s upper boundary, which currently sits near the $1.40 level.

If $XRPholds both breakouts, the rally that has recently stalled could pick up againand push the price toward higher targets. Specifically, several analysts, such as Casi, see $1.65 as the next level to watchif the bullish setup remains intact.

DMI Indicators Show Promise but Urge Caution

Elsewhere, the daily Directional Moving Index (DMI) showsthe positive directional indicator (+DI) has been rising since March 9 and sits at 33.9at the time of writing, while the negative directional indicator (-DI) dropped to 22.59.These readings indicate that short-term momentum has moved in favor of bulls.

However, the Average Directional Index currently reads 13.35, still well below the 25 mark needed to confirm a strong trend to the upside. For $XRPto sustain and build on its current push, the +DI needs to keep risingwhile the ADX climbs above 25.This would confirm the bullish trend has real strength behind it.