🚀 XRP on the 1-hour chart: Decision pattern forming! 🚀
On the 1-hour chart of XRP/USDT, the price is forming a symmetrical triangle, indicating a moment of indecision in the market. This technical pattern often precedes a major movement, and we are approaching a breakout point.
Chart analysis
Upper resistance: The $2.8751 level is a key point to break. Moving above this line could trigger a strong recovery.
Lower support: Support at $2.5769 remains strong, and breaking it could lead to a deeper correction.
Consolidation: Price is compressed in a triangle, with decreasing volatility, signaling that a significant movement may be about to end.
Possible scenarios
1️⃣ Bullish breakout:
If the price breaks the resistance level at $2.8751 with increasing volume, the next target could be $3.00 or higher.
2️⃣ Bearish breakout:
If support at $2.5769 is lost, the price could drop to $2.40 or even $2.30, previous support areas.
What to watch for?
📊 Volume: Significant volume increase will confirm the breakout.
📈 Market sentiment: Keep an eye on news that may affect prices.
⚠️ Note: This is a turning point for XRP. Conduct analysis and risk management before making any decisions.
The breakup is near. What will XRP's next move be? 🚀
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