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Veteran Trader Predicts $3 XRP Price Close With This Flag Breakout
During the recent trading session, the crypto market witnessed heightened selling pressure following the U.S. Federal Reserve’s announcement of a 25 basis point rate cut, bringing rates to 4.25-4.5%. This development led Bitcoin to drop to a low of $102K, reigniting bearish sentiment across the altcoin market. In tandem with BTC, XRP price retraced to retest the recently breached resistance from its flag breakout, signaling a potential pivot for the next rally.
As of now, the XRP price trades at $2.29 with an intraday loss of 10.2%. According to Coingecko, the asset’s market cap is at $131.2 Billion, while the 24-hour trading volume is at $19 Billion.
Renowned trader Peter Brandts reveals a bullish continuation pattern in the XRP price. The flag breakout sets an initial target of $3, followed by an extended push to $3.5.
The coin price trading above the daily exponential moving average (20, 50, 100, and 200) hints the broader trend remains bullish.
XRP Price Eyes $3 as Half-Mast Flag Signals Bullish Momentum
Source: http://www.cryptonewsz.com
