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Bullish
Three bull pennies on XRP indicate a $4.50 target after a $2.15 retest
As investors become wary about XRP, the cryptocurrency that has been the subject of many optimistic forecasts, it will soon face a critical test. Recent technical indicators have shown that three bull pennants have formed in a row, which is a pattern that usually indicates possible upward momentum. Nevertheless, XRP seems to be fighting off negative pressure as it nears a critical support level, according to the latest market data.
Get Ready for XRP's Rally to $4.50!
Now that it has fallen short of its $2.9 high, the cryptocurrency is in a correction and is heading back up toward the $1.9 support level. A dip below the 100-day SMA is one of the bearish indicators shown on the 4-hour chart. The steady increase in selling pressure suggests that greater drops may be in store if the $1.9 support level is broken.
On the 4-hour chart, the Composite Trend Oscillator has dropped below the SMA, which might indicate a change in momentum. The daily chart backs up this feeling; a bearish candlestick shows that buyers are worried.
Renowned cryptocurrency expert Ali claims that "3 consecutive bull pennants" are being highlighted on X. Experts are holding out hope that the $2.25 level might serve as a crucial retest zone for buyers in XRP, despite the current decline.
Assuming the bulls reclaim the lead, a surge to $4.40 may still be accomplished. If important support levels, between $1.9 and $1.7, can be maintained, the positive prognosis will be confirmed.
#Ripple #XRP #AltSeasonBoom? $XRP
As investors become wary about XRP, the cryptocurrency that has been the subject of many optimistic forecasts, it will soon face a critical test. Recent technical indicators have shown that three bull pennants have formed in a row, which is a pattern that usually indicates possible upward momentum. Nevertheless, XRP seems to be fighting off negative pressure as it nears a critical support level, according to the latest market data.
Get Ready for XRP's Rally to $4.50!
Now that it has fallen short of its $2.9 high, the cryptocurrency is in a correction and is heading back up toward the $1.9 support level. A dip below the 100-day SMA is one of the bearish indicators shown on the 4-hour chart. The steady increase in selling pressure suggests that greater drops may be in store if the $1.9 support level is broken.
On the 4-hour chart, the Composite Trend Oscillator has dropped below the SMA, which might indicate a change in momentum. The daily chart backs up this feeling; a bearish candlestick shows that buyers are worried.
Renowned cryptocurrency expert Ali claims that "3 consecutive bull pennants" are being highlighted on X. Experts are holding out hope that the $2.25 level might serve as a crucial retest zone for buyers in XRP, despite the current decline.
Assuming the bulls reclaim the lead, a surge to $4.40 may still be accomplished. If important support levels, between $1.9 and $1.7, can be maintained, the positive prognosis will be confirmed.
#Ripple #XRP #AltSeasonBoom? $XRP
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