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XRP Price Target $2 Breakout with this Bullish Pattern
The post XRP Price Target $2 Breakout with this Bullish Pattern appeared on BitcoinEthereumNews.com. The crypto market enters a relief rally ahead of Wednesday’s U.S. market opening. The Bitcoin price witnessing buying pressure at $90,000 has bolstered the altcoin market to seek support amid the current correction trend. Thus, the XRP price shows sustainability above $1.3 level and a suitable reversal opportunity with a bull pennant pattern. As of now, the XRP price trades at $1.41 with an intraday gain of 1.4%. According to Coingecko, the asset’s market cap stands at $81.1 Billion, while the $8.6 Billion. Key Highlights: A pennant pattern governs the current consolidation trendline in XRP price. This altcoin holding above 23.6 Fibonacci retracement level hints health pullback amid broader market correction. The XRP coin is 1.3% away from the key resistance breakout of the triangle current consolidation XRP Price Hints Imminent Breakout with Pennant Pattern Since last weekend, the XRP price has been wavering sideways above $1.3 support. While the broader market signals correction in most major altcoins, the daily chart in XRP shows long-lower price rejection candles indicating intense demand pressure from the bottom. A deeper analysis of a shorter time frame shows Ripple cryptocurrency resonating strictly within two converging trendlines forming a pennant pattern. This chart setup shows the dominating uptrend with a ‘flagpole’ followed by a temporary consolidation with a symmetrical triangle. Since early November, the XRP coin recovery formed this pattern for the third time, with priors providing a rally of 43% to 65%. Thus, a potential breakout from the overhead trendline could propel the altcoin 40% up to a target of $2. XRP/USDT -1d Chart Fibonacci Levels Highlight Key XRP Supports The momentum indicator RSI (Relative Strength Index) wavering around 50% shows a neutral stand in short. If the XRP price reverts from triangle resistance, the sellers could prolong the consolidation trend and push the…
The post XRP Price Target $2 Breakout with this Bullish Pattern appeared on BitcoinEthereumNews.com.
The crypto market enters a relief rally ahead of Wednesday’s U.S. market opening. The Bitcoin price witnessing buying pressure at $90,000 has bolstered the altcoin market to seek support amid the current correction trend. Thus, the XRP price shows sustainability above $1.3 level and a suitable reversal opportunity with a bull pennant pattern. As of now, the XRP price trades at $1.41 with an intraday gain of 1.4%. According to Coingecko, the asset’s market cap stands at $81.1 Billion, while the $8.6 Billion. Key Highlights: A pennant pattern governs the current consolidation trendline in XRP price. This altcoin holding above 23.6 Fibonacci retracement level hints health pullback amid broader market correction. The XRP coin is 1.3% away from the key resistance breakout of the triangle current consolidation XRP Price Hints Imminent Breakout with Pennant Pattern Since last weekend, the XRP price has been wavering sideways above $1.3 support. While the broader market signals correction in most major altcoins, the daily chart in XRP shows long-lower price rejection candles indicating intense demand pressure from the bottom. A deeper analysis of a shorter time frame shows Ripple cryptocurrency resonating strictly within two converging trendlines forming a pennant pattern. This chart setup shows the dominating uptrend with a ‘flagpole’ followed by a temporary consolidation with a symmetrical triangle. Since early November, the XRP coin recovery formed this pattern for the third time, with priors providing a rally of 43% to 65%. Thus, a potential breakout from the overhead trendline could propel the altcoin 40% up to a target of $2. XRP/USDT -1d Chart Fibonacci Levels Highlight Key XRP Supports The momentum indicator RSI (Relative Strength Index) wavering around 50% shows a neutral stand in short. If the XRP price reverts from triangle resistance, the sellers could prolong the consolidation trend and push the…
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