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XRP Chart Pattern Predicts Breakout to $4; What’s Next?
Ripple’s XRP has been making headlines in recent weeks due to its impressive price rally. The cryptocurrency, which has gained nearly 30% in the past week alone, has been trending upwards, and many experts believe that this momentum could continue.
In a recent analysis, our expert Tomiwabold Olajide took a closer look at XRP’s chart pattern to predict what might happen next. According to his findings, there is a strong possibility of a breakout above $3.40, which could push the price up to $4 or even higher.
This prediction is based on the formation of an ascending triangle on the daily chart, indicating that the current uptrend may continue. The pattern suggests that the cryptocurrency’s momentum will keep building and potentially lead it to new heights.
However, there are also some cautionary notes to consider. If XRP were to break below the $2.91 level, this could be a bearish signal that the current trend is exhausted and the price would likely head towards the $2.59 support.
It’s essential to note that the cryptocurrency market is notoriously unpredictable and subject to sudden changes in sentiment or external factors. Therefore, it’s crucial for investors to stay informed about market developments and adapt their strategies accordingly.
The information provided by our writers does not represent the views of U.Today.
Source: u.today
