Is $XRP - #Ripple on its way to $20? Technical indicators suggest the explosion hasn't started yet!
🔸 Upcoming resistance levels:
Technical analysis shows the possibility of $XRP launching towards targets between $7 and $20 if the current resistances between 5.75% and 8.59% in the market dominance index (XRP.D) are broken.
🔸 The market dominance of $XRP warns of a massive upward wave:
Every time XRP.D surpassed a resistance barrier, the currency experienced a rapid doubling increase. Analysts expect this scenario to repeat, supported by a "bullish flag" pattern over the past two weeks.
🔸 XRP against Bitcoin index (#XRPBTC ):
The index is nearing a break of resistance that has persisted since 2019. Breaking this area could open the door to an "explosive" upward movement as seen in 2018.
Additionally, the MACD indicator suggests an approaching positive crossover, which has previously resulted in increases exceeding 500%.
🔸 The next target on the monthly chart:
XRP is forming a "bullish flag" pattern on the monthly timeframe. If the monthly candle closes above the $2.55 level, we may see a target of $18 to $20 during this cycle.
📈 In summary: Technical analyses indicate that XRP has not yet entered its major upward wave, and the $20 target may be just around the corner... provided the upcoming resistances are successfully broken.
#ETHBreaks3700 #StablecoinLaw #StrategyBTCPurchase
🔸 Upcoming resistance levels:
Technical analysis shows the possibility of $XRP launching towards targets between $7 and $20 if the current resistances between 5.75% and 8.59% in the market dominance index (XRP.D) are broken.
🔸 The market dominance of $XRP warns of a massive upward wave:
Every time XRP.D surpassed a resistance barrier, the currency experienced a rapid doubling increase. Analysts expect this scenario to repeat, supported by a "bullish flag" pattern over the past two weeks.
🔸 XRP against Bitcoin index (#XRPBTC ):
The index is nearing a break of resistance that has persisted since 2019. Breaking this area could open the door to an "explosive" upward movement as seen in 2018.
Additionally, the MACD indicator suggests an approaching positive crossover, which has previously resulted in increases exceeding 500%.
🔸 The next target on the monthly chart:
XRP is forming a "bullish flag" pattern on the monthly timeframe. If the monthly candle closes above the $2.55 level, we may see a target of $18 to $20 during this cycle.
📈 In summary: Technical analyses indicate that XRP has not yet entered its major upward wave, and the $20 target may be just around the corner... provided the upcoming resistances are successfully broken.
#ETHBreaks3700 #StablecoinLaw #StrategyBTCPurchase
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
XRP
3.5711
+2.71%