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XRP Rally Pauses — Is Bitcoin Breakout Next?
After a recent surge, the XRP market has paused, raising questions about whether Bitcoin’s (BTC) upcoming move could be next. Despite the pause, some technical indicators still suggest that XRP may continue to range trade between $1.90 and $2.90 in the short term.
The current price action has created a symmetrical triangle pattern, which can act as both a continuation or reversal signal. The probability of a break above the triangle increases if the price rises further and confirms this trend. On the other hand, if XRP’s price falls below the triangle, it may be heading towards the 50-day SMA at $1.73.
While this analysis focuses on XRP, it is crucial to examine Bitcoin’s situation as well. The cryptocurrency market has been closely tied in recent months, and a strong move by one asset can have implications for the others.
Please note that all predictions made are based on technical analysis, which does not necessarily reflect the outcome of events.
Source: u.today
