XRP Bull Flag

While market participants expect an uptrend continuation to much higher levels, technical indicators suggest that XRP’s recent comeback may be on hold for a while, with signals pointing to a potential another bearish market.

In a tweet, Ali Martinez highlighted that while XRP’s price patterns continue to form a bull flag, the TD Sequential indicator has presented a sell signal on XRP’s four-hour chart. Based on this, he emphasized that XRP could face another correction before the much-anticipated breakout beyond the $2 price range

Martinez believes the run toward $4 will begin after the anticipated brief pullback. He first pointed out the potential for a $4 price run on Monday during the dip, noting that the asset was forming a fourth bullish pennant.

Previous instances saw XRP rise from $0.69 to $1.10, followed by a correction and then a resumption to $1.50. The cool-off from this movement eventually propelled XRP to $2.87.

With the current pullback, the next resumption is expected to push XRP to $4.40, according to Ali Martinez.

Notably, as of press time, XRP has already dipped by 4%, touching lows of $2.30 after reaching $2.46 yesterday.

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