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Analyst Says XRP Price Is Ready to SEND. Here’s the Significance
The cryptocurrency market is abuzz with the news that prominent crypto analyst Crypto Gordon has signaled a major breakout for Ripple’s native token, XRP. As the token trades around $2.18, the market’s attention is focused on the potential implications of this development.
Gordon drew attention to a tightening wedge formation on XRP’s daily chart, which he deemed “the tighter the wedge, the more explosive the breakout.” This technical setup has garnered significant interest and optimism from traders and analysts who see this as a critical inflection point.
The wedge pattern in question is a classic falling wedge, often seen as bullish if it develops after a rally. This configuration involves a narrowing range between declining resistance and relatively steady support, resulting in a coil-like effect. The convergence of the wedge with rising network activity and trader positioning underscores the likelihood of an imminent directional move.
XRP appears poised for a potentially explosive move, with Gordon’s warning that “XRP is looking primed to SEND.” If this breakout materializes, it could mark the beginning of a new phase for XRP, possibly driving it toward long-awaited price milestones.
Source: timestabloid.com
