XRP's Strong Upward Trend Resumes...Expecting a New Attempt at $1.29

XRP broke through the upper boundary of the symmetrical triangle pattern that had consolidated for weeks, signaling a short-term bullish trend. According to The Crypto Basic, XRP's recent uptrend pushed it above the multi-week consolidation range. The cryptocurrency closed higher for four consecutive days, with Bitcoin's rebound supporting market momentum. After surpassing key resistance, the uptrend has continued, confirming the breakout. The symmetrical triangle pattern began on June 15 when XRP formed a lower high near $1.29. Highs gradually declined while lows rose, narrowing price volatility. Following the July 15 low of $1.12, volatility further contracted, with $1.13 emerging as a critical breakout level. However, a straight upward move post-breakout is not guaranteed, as a short-term consolidation or retracement to previous resistance could occur. The key is whether XRP sustains prices above the breakout level. Strong support near $1.13 could pave the way for testing the upper resistance range. Short-term resistance is at $1.18, a level where the uptrend paused in early July. Crossing this could signal dominant buyer control. The next target is $1.29, requiring a ~14% rise from current levels. Seasonal trends from July show XRP typically rises ~14% during the month, with a 34% surge in July 2014. The combination of the recent breakout and seasonal momentum could increase the likelihood of retesting the upper range. Short-term supply-side signals show significant withdrawals, with ~$32 million in XRP withdrawn from exchanges over seven days. This could indicate accumulation rather than short-term selling.