Is XRP approaching a critical level and when will a pattern breakout lead to a 35% rise?

The cryptocurrency market appears to have reached critical levels, indicating that it is on the precipice of a major explosion. As a new Bitcoin rally begins, altcoins could also spark a strong rally, which could alleviate any remaining bearish pressure in the market. Despite the current market conditions, popular altcoin Ripple (XRP) is not affected as its price continues to trade within a narrow range.

The weekly gains appear to have been nullified, but will XRP price trigger a 30% rally and reach the intermediate resistance of $0.6?

XRP price appears to have remained just below $0.6 as the bulls failed to lift the rally above the newly formed resistance area. This has further angered market participants and led them to explore other options within the space. As a result, prices remained stagnant within the region with significantly reduced volume and volatility.

Moreover, long-term price action continues to show hopes for strength, but the token needs to secure local highs.

The weekly chart shows the main reasons for the sideways trend in XRP price. The price is currently trading within an important symmetrical triangle and is very close to its peak. Volatility typically decreases as a trade approaches the edge. This indicates that bulls are accumulating profits in preparation for a bigger rally ahead.

The weekly MACD is also bullish and will soon cross. While the level remains within a bullish range, the space indicates that the price is likely to remain within that range. As a result, XRP price remains bullish, but needs to break the critical resistance of $0.6 and quickly secure levels above $0.7. This could pave the way for the token to break out of the symmetrical triangle and rise towards $0.85.