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– Has the big move started?
The $XRP currency has been moving within a tight triangle for weeks, and as we approach the peak, we are awaiting an imminent price explosion.
Brief technical analysis:
Consolidation area: 0.505 - 0.520
Breaking 0.520 gives a first target of 0.547 then 0.580
Strong support at 0.490
Upcoming opportunities:
If the daily close is above 0.520, buyers will enter strongly and the medium-term target exceeds 0.600
However, if 0.490 is broken, we may see a correction towards 0.470 before any new rise.
Advice for traders: Watch the trading volume, any breakout with high volume means institutional entry and achieving targets faster.