Recently, XRP's movements have left the market holding its breath. Analyst Ali Martinez recently pointed out that if XRP's 4-hour price chart can break through the current bullish flag pattern, it may usher in a explosive rise, targeting $4!
Bullish flag: Is XRP gearing up?
Bullish flag is a classic technical analysis pattern that resembles a flag hanging on a flagpole. When the asset price rapidly rises and then enters a brief consolidation phase, this pattern is established. Its key features include:
Flagpole: A sharp price increase constitutes the flagpole.
Flag: The price fluctuates between two parallel trendlines, forming a consolidating flag shape.
In a bullish flag, the likelihood of breaking through the upper trendline is usually much higher than the probability of falling below the lower trendline, thus it is often regarded as a continuation signal for the upward movement.
Analysts have pointed out that XRP is currently in this formation. A few days ago, it attempted to break through the upper trendline of the flag but was unsuccessful. The current retest may lead to a critical breakthrough.
TD sequence signal: Will a breakthrough follow a short-term pullback?
However, things are not all smooth sailing. Ali Martinez warns that XRP's price has simultaneously triggered a Tom DeMark (TD) sequence sell signal.
The TD sequence is a precise indicator for pinpointing tops and bottoms. When the price consecutively shows nine green candles, it typically suggests that a brief pullback may be on the horizon.
Martinez believes that before breaking the key resistance level of $0.246, XRP may experience a brief adjustment. Once this step is completed, the price's upward potential will be completely opened up.
Target $4: How high is this flagpole?
If XRP successfully breaks through the upper trendline of the bullish flag, its theoretical target price will be estimated based on the height of the flagpole. Analysts expect the final target price of this breakthrough could rise to $4, which would mean nearly doubling the current price!
Market enthusiasm is gradually warming up, and whether the bullish flag breaks will be a decisive factor for future trends. Don’t be blinded by short-term fluctuations; Brother Tang teaches you to lock in targets, advance step by step, and witness wealth explosion with a smile! Follow Brother Tang to go from confusion to freedom!
