$XRP current chart pattern analysis picture

Here’s a visual overview of XRP’s current chart patterns based on recent technical analyses:​

📊 Key Chart Patterns Observed

  1. Megaphone Pattern (Broadening Formation)

    • Analyst EGRAG has identified a megaphone pattern on XRP’s monthly chart, characterized by higher highs and higher lows.

    • This pattern suggests increasing volatility with bullish momentum, potentially paving the way for a move toward $27 if the trend continues. ​Crypto Basic

  2. Cup and Handle Formation

    • A cup and handle pattern has emerged on the daily timeframe, with XRP consolidating between $2.40 and $2.70, forming the handle portion.

    • This bullish continuation pattern indicates a possible breakout, with analysts projecting a 14% upswing to around $3. ​CoinLore+8Blockonomi+8Crypto Basic+8

  3. Bull Pennants and Symmetrical Triangle

    • Analysts have observed three consecutive bull pennants on XRP’s 4-hour chart, following a breakout from a multi-year symmetrical triangle.

    • These formations suggest potential buying opportunities if the price retests the $2.25 level, with a subsequent target of $4.40. ​Blockonomi

  4. Descending Channel

    • On the 1-hour chart, XRP is forming a descending channel, indicating a downward bias.

    • A breakout above this channel could signal a bullish move toward the $0.63 zone. ​CoinGape+5patterns.cc+5

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