XRP is about to break through, traders need to keep an eye on it!
#山寨季分析 Two indicators for XRP, MACD and CMF, are showing upward momentum, it seems a breakthrough is coming!
XRP is currently forming a symmetrical triangle, and a big move is imminent.
RSI is also joining the party, in a consolidation state, and seems to support a breakout.
Since 2022, XRP has been oscillating within a range, and if it breaks through the $0.65 resistance, and then confirms it, the potential increase could be 130%! The next resistance level to watch is $1.55.
XRP is about to make a move, the triangular pattern indicates a breakout!
From XRP's weekly chart, a symmetrical triangle is clearly visible, with the price appearing to be compressed, just waiting for a breakthrough. Since mid-2021, the upper edge of the triangle has been declining, while the lower edge has been rising.
AMBCrypto mentioned that $0.12145 is an important support level, and around $1.55720 is the resistance; these two positions need to be closely monitored to see which direction XRP will move.
RSI has also formed a triangle, indicating price consolidation. However, the long-term upward trend line of RSI is still intact, suggesting that although the price is consolidating, buyers' enthusiasm is increasing.
XRP reserves remain stable, holders may be waiting for a significant rise.
The foreign exchange reserves for XRP are about 3 billion, although there is some volatility, overall it remains quite stable. However, XRP's price (black line) fluctuates significantly.
This disparity indicates that traders are not heavily buying and selling XRP on Binance, and the trading appears more speculative.
With reserves being so stable, it may mean that holders are quite confident, either believing the price will rise or feeling there’s no need to act now. Additionally, the price recently returned to around $0.555, which may have attracted quite a few watchers.
XRP has stabilized, will the indicators lead to a breakout?
#山寨季分析 Recently, I plan to position in a potential coin that is ready to surge, doubling is quite simple, and I also plan to find some potential coins to hold until the end of the year, with an expected gain of more than 10 times being quite feasible. If you want to keep up, leave a message, follow, like, and share freely.