Ripple $XRP wants to repeat history

From September 29 to November 6, the price of XRP moved in a descending triangle. This bearish pattern has a downward upper trendline and a flatter lower horizontal line.$HBAR $SOL

When the price breaks below the horizontal line, it usually continues to decline. Conversely, a breakout above the upper trendline often leads to significant growth. Around November 7, Ripple made a bullish breakout from this pattern, resulting in an impressive price increase of 350%.

Currently, the daily chart shows that the token is forming another descending triangle. If history repeats itself, the price could rise significantly again.

The Money Flow Index (MFI) confirms the optimistic outlook. It measures buying and selling pressure by analyzing the price and volume of the cryptocurrency. Values above 80 indicate that the asset is overbought, signaling a sell. A reading below 20 indicates oversold conditions, which may be a convenient time to buy.

At the time of writing, the MFI has risen from 42.05 to 61.64, indicating significant buying pressure on XRP. If it persists, the altcoin could rise above $2.24. #BtcNewHolder