XRP has formed a bullish pennant pattern on the H4 timeframe, indicating the potential continuation of the bullish trend.
This bullish pennant pattern is not the first occurrence for XRP; in two previous instances, XRP displayed a similar pattern, each followed by an upward breakout. After the breakout, the price experienced a significant rally, establishing the bullish pennant as a consistent technical pattern. This strengthens expectations that XRP may continue its bullish trend if this breakout is confirmed again.
The bullish scenario targets the psychological level of $3.00 to $3.50, with a cut-loss strategy recommended if the price re-enters or breaks below the pennant area.
Fundamentally, positive sentiment is bolstered by the news that Ripple's stablecoin, RLUSD, has officially received approval from the New York Department of Financial Services (NYDFS). This approval was announced by Ripple CEO Brad Garlinghouse.
With a combination of the bullish pennant technical pattern and strong fundamental catalysts, XRP is likely to continue its rally to higher levels in the coming days. However, remain cautious of potential retracements if there are sudden changes in market sentiment or unexpected news developments.
Disclaimer: This analysis is part of a trading plan and does not constitute trading advice. Technical analysis is probabilistic in nature and does not guarantee profitability. Always implement proper risk management in every trading decision. #Xrp🔥🔥 #RLUSDApprovalBoostXRP #BinanceLaunchpoolVANA #Write2Earn! #BTC☀
I bought my first milady for 3 ETH not long ago when ETH was $2500 so the total cost was $7500
Now 1 milady is 7.3 ETH with ETH valued at $3700 so that's $27k for 1 milady and almost $20k profit on my purchase
I knew 3 ETH was the bottom after they retraced from above 5 ETH a few months ago and I aped. What I'm kicking myself about is the fact I didn't buy 4 or 5 or 10 miladys at that time!!! 😿
Miladys are currently a top 3 collection on ETH and I can easily see them hit 10 ETH floor very soon
20 ETH to 50 ETH floor peak bull run isn't unrealistic if you consider bored apes are already valued at 23 ETH floor
Milady at 20 to 50 ETH floor with ETH valued at $6k to $10k peak bull run will put milady floor between $120k to $500k! Do you believe?