Expert opinion: bullish #XRP (from Coinsradar.net)
There is monthly support at about $0.47, and although the price has tested below this, it has not yet closed below this level on the monthly chart.
Currently at weekly support at $0.49, on the weekly and daily charts, a descending triangle pattern has formed, and the Stochastic RSI is showing a buy signal, so it is bullish.
The market sold off, and all charts showed bullish signals, but before the last liquidity grab, the price sold off once, which seems somewhat predictable and typical of the cryptocurrency market.
There is no real structure broken at the moment, and the descending triangle pattern formed since August 2023 is still valid.
If we close below $0.47 on the daily chart, this analysis will be invalid.
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