Social Trader
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Bullish
#rxp #Xrp🔥🔥 Looking at the daily chart (1D) of the XRP/FDUSD pair, the price is indeed showing characteristics similar to a bull flag, but there are some points that deserve attention:
What I see on the chart:
1. Previous movement (flagpole):
XRP made a strong rise from around ~2.00 to ~3.66.
This vertical movement is typical of the 'flagpole' of the flag.
2. Lateral/descending correction (shape of the flag):
After the high at 3.66, the price entered a descending channel, respecting a downward trend line (inverted LTA).
This LTB is visible through the 40-period moving average (yellow), which has been acting as dynamic resistance.
The price is now squeezed between the 40 MA (resistance) and the 7 MA + support at approximately 3.10.
3. Moving averages (MA 7 and 40):
The price is above the MA40 (3.108), which is positive.
However, there has not yet been a clear breakout of the descending trend line.
4. MACD:
It is almost neutral, but still slightly negative (MACD: -0.0280), indicating a lack of buying strength to confirm the breakout.
5. Volume:
Volume has decreased during the correction → this is consistent with the bull flag pattern, as the market rests before attempting a new breakout.
Possible scenarios:
Bullish (flag breakout):
If the price breaks the LTB / MA40 (~3.20 - 3.25) with volume, it may confirm the flag and target the region of 3.38 → 3.66 again.
Target 1: 3.38 (local top)
Target 2: 3.66 (previous high)
Target 3 (flag projection): close to 4.20
Bearish (flag failure):
If it loses 3.09 (daily low), it may test 2.82 – 2.62 (previous support).
Losing the MA40 would be a sign of weakening.
✅ In summary:
The shape indeed resembles a bull flag.
The price is at a decisive point: break the LTB or lose the support at 3.09.
Volume will be key to confirming the breakout.
What I see on the chart:
1. Previous movement (flagpole):
XRP made a strong rise from around ~2.00 to ~3.66.
This vertical movement is typical of the 'flagpole' of the flag.
2. Lateral/descending correction (shape of the flag):
After the high at 3.66, the price entered a descending channel, respecting a downward trend line (inverted LTA).
This LTB is visible through the 40-period moving average (yellow), which has been acting as dynamic resistance.
The price is now squeezed between the 40 MA (resistance) and the 7 MA + support at approximately 3.10.
3. Moving averages (MA 7 and 40):
The price is above the MA40 (3.108), which is positive.
However, there has not yet been a clear breakout of the descending trend line.
4. MACD:
It is almost neutral, but still slightly negative (MACD: -0.0280), indicating a lack of buying strength to confirm the breakout.
5. Volume:
Volume has decreased during the correction → this is consistent with the bull flag pattern, as the market rests before attempting a new breakout.
Possible scenarios:
Bullish (flag breakout):
If the price breaks the LTB / MA40 (~3.20 - 3.25) with volume, it may confirm the flag and target the region of 3.38 → 3.66 again.
Target 1: 3.38 (local top)
Target 2: 3.66 (previous high)
Target 3 (flag projection): close to 4.20
Bearish (flag failure):
If it loses 3.09 (daily low), it may test 2.82 – 2.62 (previous support).
Losing the MA40 would be a sign of weakening.
✅ In summary:
The shape indeed resembles a bull flag.
The price is at a decisive point: break the LTB or lose the support at 3.09.
Volume will be key to confirming the breakout.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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