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Is the XRP bull run over?
As noted above, XRPās bearish divergence raises the likelihood of a pullback toward $2.28, which aligns with the upper trendline of its prevailing bull flag pattern.
A bull flag pattern forms when the price consolidates inside a downward-sloping parallel channel after a strong uptrend. It typically resolves when the price breaks above the upper trendline and rises by as much as the previous uptrendās height.
Is the XRP bull run over?
As noted above, XRPās bearish divergence raises the likelihood of a pullback toward $2.28, which aligns with the upper trendline of its prevailing bull flag pattern.
AĀ bull flagĀ pattern forms when the price consolidates inside a downward-sloping parallel channel after a strong uptrend. It typically resolves when the price breaks above the upper trendline and rises by as much as the previous uptrendās height.
XRP has already entered the breakout stage of its bull flag pattern. However, after a breakout, the price often retests the patternās upper trendline to confirm it as new support.
Such a retest validates the breakout and provides an entry point for new buyers. A successful bounce from the upper trendline strengthens the bullish case and sets the stage for a move higher toward the original upside target.
In XRPās case, the bull flagās upside target is around $4.42, up 40% from current price levels. Additionally, XRPās long-term outlook remains optimistic, supported by the potential launch of spot XRP exchange-traded funds (ETF) in the US.
Related: XRP price to $10ā$50 'plausible' if spot ETF approved, ChatGPT says
JP Morgan analystsĀ predictĀ that these funds may attract $4 billion-to-$8 billion in assets under management.
If the XRP price fails to hold above the flagās upper trendline, it risks invalidating the bullish setup entirely. In such a scenario, the next downside target could be the patternās lower trendline near $1.90, a level that prevented XRP's downside in December.
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