XRP Bull Flag Breakout Could Reach $4, Analyst Says

An expert said XRP might reach $4 if its 4-hour price breaks out of a bull flag pattern.

XRP Consolidates In A Bull Flag Recently
Analyst Ali Martinez noted in a new X article that XRP's 4-hour price is creating a Bull Flag. The technical analysis (TA) pattern known as the “Bull Flag” resembles a flag on a pole.

After a rapid increase, the asset price consolidates downward. The initial uptrend is the ‘pole,’ while the consolidation stage is the ‘flag.’

Flag patterns consolidate within parallel channels. That is, between two parallel trendlines denoting price peaks and bottoms. A pennant is a trendline convergence pattern.

The flag's higher level may oppose pricing, while its lower level may encourage it. A breach of either trendline may indicate a continuation of that trend.

As a continuation pattern, a bull flag may break over the resistance level more often than the support line failing.

The bear flag is similar to the bull flag. This one operates similarly, except the pole is a strong move down and the flag is a short consolidation period to the upside.

The 4-hour XRP price recently reached the top of the bull flag consolidation channel, as seen in the graph. The asset failed a similar retest two days ago, but this might be the break.

The TD Sequential is a TA indicator that predicts asset value peaks and bottoms. After price sees nine candles of the same hue, the setup begins.

XRP's TD Sequential phase ended with nine green candles, signifying a possible bearish reversal.

Before breaking over $0.246 barrier, the analyst expects a small pullback for the cryptocurrency. Martinez set the $4 objective for XRP because bull flag breakouts may be as long as the pole.


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