💥💥💥 Will $XRP Bull Run Reach $0.91 Amid Triangle Breakout?
XRP Recovers as Bullish Sentiment Gains Momentum
- Following recent news about the SEC's planned appeal of the Ripple ruling, XRP has surged to $0.6284 with an increase in trading volume.
Triangle Pattern Breakout
- XRP's daily chart shows a significant boost in bullish momentum, breaking out above its overhead resistance trend line and marking a long-awaited triangle pattern breakout.
Key Fibonacci Levels
- The price is currently challenging the 78.60% Fibonacci level near $0.6521 and exceeding a crucial resistance level of $0.6284. The daily EMAs (50, 100, and 200) remain in bullish alignment, reflecting an uptick in demand and increasing momentum.
Potential Targets
- If XRP continues to move higher, it may reach new targets at the 100% and 1.618 Fibonacci levels, putting prices at $0.72 and $0.91 respectively.
- However, a potential appeal from the SEC could crush market optimism, with support standing at the $0.6284 neckline.
SEC Appeal Speculation
- A former SEC lawyer has suggested that the agency may appeal the XRP ruling, considering it "illegal." This speculation adds to the uncertainty surrounding the market's direction.
- The situation is developing, and investors will be watching closely for updates on the #SEC's plans and their potential impact on XRP prices.
Source - thecryptobasic.com
