The price of XRP is again preparing for an explosive movement for 3 dollars. Seeking break out of the phase of consolidationThe price action of XRP suggests that a massive rally can be right around the angle. The analyst who predicted this bull step remains generally optimistic. Future prospects for XRPNevertheless, he also warned the field that a false and subsequent breakdown of prices is possible.
XRP price is prepared for the aircraft for 3 dollars
In 1 hour analysis, Arshevev, crypto analyst TradingView, open that the price of the XRP forms the sequence of rigid patterns of consolidation. Color triangular formations on the price graph have allocated each consolidation template formed over the past few weeks. These triangles show that the price action moves to the side, which indicates indecision before the breakthrough.
WITH XRP is installed for a breakthrough From the current Arshevev consolidation model, cryptocurrency can soon rise to a mark of $ 3, which is 37% more compared to its current market value. At the time of writing, the price of XRP costs about $ 2.19 after a sharp rebound from Critical support zone About 2.05 dollars. The support zone of $ 2.05 is identified as a mandatory level, since the gap will support the current bull structure of Altcoin.
Moving forward, the TradingView diagram shows a common bull tendency, with a price action relating to the growing line of support for XRP. Fresh Consolidation triangle It has been formed, and if the story is what is the indicator, the XRP can go up from this model, aimed at the initial level of the price of $ 2.36.
The shooting from the bold “Highway to the Moon” on the price schedule indicates a successful breakthrough, which can push the price to a higher price level of $ 2.6 and, possibly, even cause a wider rally up to $ 3. In his analysts, Arshevev allocated the previous support zone of $ 2.21, where the buyers initially intervened, noting it as an important area of retention for the XRP.
Bull Settings for Altcoin: Breakout or Fakeout?
Bye Technical installation of XRP And a potential breakthrough from consolidation looks promising, Arshevev recommended caution, since the market could be unpredictable. Cryptocurrencies are known for their own volatilityAnd unsuccessful breakthroughs are not uncommon, especially when the price freezes for resistance too long.
If XRP cannot convincingly break the resistance level of $ 2.29, analyst The sharp breakdown projects In the support zone $ 2.21. A further rollback here can open doors for an even greater fall in prices for important support, some of $ 2.05. This potential Reducing prices described as “Fakeout“How XRP gives the illusion to start a rally, but instead is sharply addressed.
Thus, while technical indicators prefer a breakthrough of growth in the price of XRP, the analyst of TradingView is still in doubt whether this can lead to a breakthrough to new maximums or ultimately lead to falsification.
