XRP Eyes Bull Flag Breakout
After last week’s rally stalled at $0.64, XRP price corrected below $0.6 and tested support at $0.54 before reversing the trend to exchange at $0.57
As per the prevailing XRP price prediction, a major move awaits the token, which holds above key levels, such as the 50-day and 200-day Exponential Moving Average (EMAs). Bulls must also reclaim the 20-day EMA at $0.5732 to validate the uptrend and pave the way for a bull flag breakout.
A bull flag pattern, similar to a flag, establishes after an upward trend. A 22% breakout above the flag’s upper trendline signals a potential continuation of the uptrend to $0.69, offering a bullish trading opportunity.
Conversely, XRP price prediction points to potential consolidation between $0.54 support at $0.6 resistance. The Moving Average Convergence Divergence (MACD) neutral movement reinforces this sideways outlook. If XRP slides below $0.54, a correction to $0.5 support will follow before considering another move toward $1.
FOLLOW uS
X/Trend/IG
Like
Share
Comment