XRP Price Hints At Symmetrical Triangle, But A Crash Could Come Before The Surge
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Crypto analyst CW23 reveals XRP price is hinting Symmetric trianglewhich provides a bullish outlook for cryptocurrencies. However, he warns that a price crash could occur before XRP breaks through the triangle and rises.
XRP price hints symmetrical triangles
exist TradingView PostsCW23 reveals the possible symmetric triangles that XRP prices form. This is because he pointed out that XRP is bounced from a bottom Upgrade channelPinbar candles on the 4-hour chart now tested the bottom under upward pressure. Analysts added that cryptocurrencies could be traded within this range for a while.
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However, the CW23 representation forms a symmetric triangle, and before Wave 5 it could be a larger wave 4 callback in Elliot Wave, raising the XRP price to new Highest history (ATH) End this year’s bull cycle. The analyst’s accompanying chart shows that XRP fell to $1.70 in wave 4. Meanwhile, the asset is expected to rise to a new ATH of $5 in wave 5.
Crypto Analyst Elmox also predicted recently XRP price can see huge corrective measures and drop below $2 at $2. Analysts offer XRP a more bullish outlook, predicting it could be as high as $20 in this market cycle. However, he warned that cryptocurrencies will face a major resistance of $2.9 on their way to the new ATH.
Altcoin has completed correction
In X posts, Crypto Analyst Dark Defender It points out that the XRP price has been corrected within a four-hour time frame. He mentioned that XRP is expected to take into account the correction structure first and will shift to $2.42. Analysts also confirmed that the real upside will begin after XRP climbs above the Ichimoku cloud.
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Dark Defender highlighted $2.22 and $2.04 as support levels to be noted, while he said $4.2932 and $5.8563 were targets XRP Price Can meet. Crypto analyst Casitrades highlighted the importance of Altcoin’s support levels of $2.04 and $2.11.
She added that the above two levels of holdings are crucial to maintaining the merger. Meanwhile, analysts revealed that the next resistance level is $2.25 and $2.70, which happens to be the next breakout level. Casitrades also assured market participants that prices are still optimistic, which shows that it is still well prepared to reach new highs.
At the time of writing, the XRP price is trading at about $2.24, up more than 2% in the past 24 hours. data From CoinMarketCap.
Featured images from Istock, charts from TradingView.com
