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XRP poised for massive $4.40 breakout after THIS – What’s going on?
The post XRP poised for massive $4.40 breakout after THIS – What’s going on? appeared on BitcoinEthereumNews.com. XRP consolidates after three bullish pennants; $4.40 breakout possible if $2.25 support holds. Rising options interest and trading activity confirmed strong momentum. XRP’s price action showcased three consecutive bull pennant formations at press time, a classic bullish continuation pattern. The first pattern emerged after a rally from $0.80 to $1.20, where XRP consolidated briefly before breaking out to the upside. The second pennant followed a price movement from $1.20 to $1.80, repeating the same consolidation and breakout behavior. The third and current pennant formed after XRP surged from $1.80 to $2.50. The price has been consolidating between $2.25 and $2.60. Source: X Analysts suggested that this formation may lead to another bullish breakout, potentially driving XRP toward the $4.40 target if the current resistance is surpassed. The $2.25 level has been identified as key support, offering a potential entry point for buyers anticipating further upward momentum. Technical indicators support a bullish outlook XRP remained above the 20-day Bollinger Bands’ moving average at press time, indicating sustained bullish momentum. Despite the current candle showing a pullback from the upper band, the midline near $1.93 could serve as additional support if the price experiences further retracement. Momentum indicators also point toward bullish conditions. The Relative Strength Index (RSI) was 67.33, reflecting strong upward momentum while nearing overbought territory. Source: TradingView This cooling off aligns with the recent price pullback and suggests that XRP may consolidate before continuing its ascent. The MACD indicator further reinforces this outlook, with the MACD line staying above the signal line. Although the histogram bars are contracting slightly, the overall bullish trend remains intact. Derivatives data shows mixed sentiment Derivatives data reveals increased market activity. XRP’s trading volume has grown by 13.86%, reaching $16.44 billion, while options volume rose by 17.41%, showing heightened speculative interest. Options Open Interest…
The post XRP poised for massive $4.40 breakout after THIS – What’s going on? appeared on BitcoinEthereumNews.com.
XRP consolidates after three bullish pennants; $4.40 breakout possible if $2.25 support holds. Rising options interest and trading activity confirmed strong momentum. XRP’s price action showcased three consecutive bull pennant formations at press time, a classic bullish continuation pattern. The first pattern emerged after a rally from $0.80 to $1.20, where XRP consolidated briefly before breaking out to the upside. The second pennant followed a price movement from $1.20 to $1.80, repeating the same consolidation and breakout behavior. The third and current pennant formed after XRP surged from $1.80 to $2.50. The price has been consolidating between $2.25 and $2.60. Source: X Analysts suggested that this formation may lead to another bullish breakout, potentially driving XRP toward the $4.40 target if the current resistance is surpassed. The $2.25 level has been identified as key support, offering a potential entry point for buyers anticipating further upward momentum. Technical indicators support a bullish outlook XRP remained above the 20-day Bollinger Bands’ moving average at press time, indicating sustained bullish momentum. Despite the current candle showing a pullback from the upper band, the midline near $1.93 could serve as additional support if the price experiences further retracement. Momentum indicators also point toward bullish conditions. The Relative Strength Index (RSI) was 67.33, reflecting strong upward momentum while nearing overbought territory. Source: TradingView This cooling off aligns with the recent price pullback and suggests that XRP may consolidate before continuing its ascent. The MACD indicator further reinforces this outlook, with the MACD line staying above the signal line. Although the histogram bars are contracting slightly, the overall bullish trend remains intact. Derivatives data shows mixed sentiment Derivatives data reveals increased market activity. XRP’s trading volume has grown by 13.86%, reaching $16.44 billion, while options volume rose by 17.41%, showing heightened speculative interest. Options Open Interest…
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