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Bullish
XRP Price Analysis: Is it Possible for XRP to Reach $10?
However, he emphasized that these aims "hinge largely on adoption and a resolution to regulatory hurdles." Lee also acknowledged optimistic scenarios that suggested an XRP price high beyond $10. However, he did not mention that these targets were dependent on adoption.
XRP's technical setup makes it possible to anticipate a price that is close to its previous all-time high in the near future. After then, the price of XRP will be in a discovery period, and it is expected that fundamentals and larger market movements will be the primary contributors to a new high that will push into the year 2025.
It would seem that the price of XRP is producing a flag inside a descending channel, after a significant upward move that occurred before the end of November. This is before the price makes its next move higher.
After spending some time in oversold territory, the Relative Strength Index (RSI) has now established itself in the neutral zone at 50. Both the MACD line and the signal line continue to maintain their positions above one another, which is more evidence that bulls are competing to decide the next move.
If a breakout happens, the pattern will establish a price objective of $3.50 towards the end of the year. This would allow XRP to recapture its previous all-time high, which would be a fifty percent increase from the present price.
However, in order to rule out the possibility of a retest of the pattern's bottom boundary, the support that has been given by the 50-day simple moving average up until this point will need to be maintained.
#XRP #Ripple #BTCReclaims101K #MicrosoftRejectsBTC #MajorAirdropWatch
However, he emphasized that these aims "hinge largely on adoption and a resolution to regulatory hurdles." Lee also acknowledged optimistic scenarios that suggested an XRP price high beyond $10. However, he did not mention that these targets were dependent on adoption.
XRP's technical setup makes it possible to anticipate a price that is close to its previous all-time high in the near future. After then, the price of XRP will be in a discovery period, and it is expected that fundamentals and larger market movements will be the primary contributors to a new high that will push into the year 2025.
It would seem that the price of XRP is producing a flag inside a descending channel, after a significant upward move that occurred before the end of November. This is before the price makes its next move higher.
After spending some time in oversold territory, the Relative Strength Index (RSI) has now established itself in the neutral zone at 50. Both the MACD line and the signal line continue to maintain their positions above one another, which is more evidence that bulls are competing to decide the next move.
If a breakout happens, the pattern will establish a price objective of $3.50 towards the end of the year. This would allow XRP to recapture its previous all-time high, which would be a fifty percent increase from the present price.
However, in order to rule out the possibility of a retest of the pattern's bottom boundary, the support that has been given by the 50-day simple moving average up until this point will need to be maintained.
#XRP #Ripple #BTCReclaims101K #MicrosoftRejectsBTC #MajorAirdropWatch
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