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Share a cryptocurrency analyst A Technical analysis of XRP price In a time frame of 4 hours. Currently, the XRP chart is highlighting distinct patterns in market behavior, indicating that historical price action may be repeating itself. The analyst predicts that if the cryptocurrency can successfully replicate these bullish historical patterns, it could lead to a bullish rally for XRP.
XRP price patterns indicate upside potential
Richard, a cryptocurrency analyst at TradingView, known as “The Signalyst.” Announce This history repeats itself on the XRP price chart. The analyst shared a detailed analysis report on XRP, Predicting his future goal While examining critical aspects of the current price movement.
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According to Richard, the 4-hour chart of XRP reveals an interesting pattern characterized by lower lows and a sharp bullish impulse wave. The two red arrows labeled “LL” on the price chart indicate the areas where the price is XRP price has hit new lows Mid-November, indicating a correction or trend reversal. This downward trend was quickly followed by a period of consolidation within a specific range shown in the green area on the chart.
After experiencing the lowest lows and lows Downward momentumRichard noted that the price of XRP entered a corrective phase, and stabilized within the green zone mentioned above. Eventually, XRP broke through this green resistance band, creating a bullish momentum that took the cryptocurrency to its previous high price of $1.5.
Although the price of XRP corrected again and traded at around $1.4 earlier this week, Richard highlighted that the cryptocurrency appears to be repeating the historical setup mentioned above. He has a price It entered a new consolidation phase Just below the $1.53 level, indicating a $1.53 level The beginning of its next upward movement.
If the XRP price repeats this pattern and crosses the $1.53 threshold, the analyst notes that this would validate the expected bullish momentum situation for XRP and pave the way for a potential rally towards the $2 psychological level.
The analyst rates XRP at $1.4 as a buy
By Steve, Cryptocurrency Analyst on X (formerly Twitter). Named The price of XRP is a buy trade at $1.4. After rising above $1.5 earlier this month, the price of XRP saw a slight trend reversal, taking it lower to $1.4.
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Steve revealed that the XRP price of $1.4 was a major buying opportunity for investors, as… Breakout to the top It was about to start. Regarding the expected breakthrough, it seems that the analyst was right, as… The price of XRP is currently trading at $1.6Recording an increase of 8.7% during the past 24 hours.
while XRP continues to gain momentumSteve predicts that the cryptocurrency will soon see a massive rise to $50. With this bullish scenario in mind, Richard urged investors to start buying XRP before further adoption pushes its price into an “expensive range,” between $22 and $120.
Featured image created with Dall.E, chart from Tradingview.com