XRP Price Forecast: Will Bullish Pennant Push It Toward $4.20?
- XRP forms a bullish pennant, indicating a potential 34% rally if $3.36 resistance is broken.
- Key support at $3.05 and resistance at $3.36 hold the breakout potential for XRP’s price trajectory.
- EMA and RSI signals show bullish momentum, with $4.20 as the projected breakout target.
XRP’s price action is grabbing traders’ attention as it is forming a bullish pennant on the 4-hour chart. This pattern often signals a continuation of an existing trend, suggesting a significant rally, if confirmed.
Currently, XRP trades near $3.16, just below a key resistance level at $3.36. If it breaks out from this formation, the token could surge toward $4.20—a potential 34% gain. The flagpole, representing the initial rally, supports this optimistic view.
Related: XRP Price Prediction: Will ETFs Unlock XRP’s True Potential
Key Indicators: Bullish Momentum Building
XRP trades above both the 100-day and 200-day EMAs, signaling a bullish outlook for the medium-to-long term. The 20-day and 50-day EMAs are huddled near the current price of $3.15, showing consolidation and hinting at a possible breakout.
On the 4-hour timeframe, the RSI is…
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XRP Price Forecast: Will Bullish Pennant Push It Toward $4.20?
- XRP forms a bullish pennant, indicating a potential 34% rally if $3.36 resistance is broken.
- Key support at $3.05 and resistance at $3.36 hold the breakout potential for XRP’s price trajectory.
- EMA and RSI signals show bullish momentum, with $4.20 as the projected breakout target.
XRP’s price action is grabbing traders’ attention as it is forming a bullish pennant on the 4-hour chart. This pattern often signals a continuation of an existing trend, suggesting a significant rally, if confirmed.
Currently, XRP trades near $3.16, just below a key resistance level at $3.36. If it breaks out from this formation, the token could surge toward $4.20—a potential 34% gain. The flagpole, representing the initial rally, supports this optimistic view.
Related: XRP Price Prediction: Will ETFs Unlock XRP’s True Potential
Key Indicators: Bullish Momentum Building
XRP trades above both the 100-day and 200-day EMAs, signaling a bullish outlook for the medium-to-long term. The 20-day and 50-day EMAs are huddled near the current price of $3.15, showing consolidation and hinting at a possible breakout.
On the 4-hour timeframe, the RSI is…
The post XRP Price Forecast: Will Bullish Pennant Push It Toward $4.20? appeared first on Coin Edition.
Read More
Ledn Drops Ethereum, Embraces Bitcoin-Only Custody Model