XRP Price Bullish Breakout: Falling Wedge Cleared, Analyst Eyes $3.5-$5 Rally
- XRP has broken out of a descending triangle on the 3-day chart, suggesting a bullish reversal.
- MACD shows a bullish crossover while RSI nears overbought, supporting short-term momentum.
- Price targets range from $3.50 to $5, with a bearish invalidation zone below $2.
XRP is showing strong bullish signals as it decisively breaks out of a falling wedge pattern on the 3-day chart against USDT. This bullish pattern is characterized by converging trendlines where the XRP price was making lower highs and lower lows. Such a breakout typically indicates a potential reversal of the prior downtrend and has captured significant market attention.
According to CoinMarketCap data, the trading volume of the XRP token soared 135% to $10.72 billion as prices shot up 5.63% in the past 24 hours with the altcoin hitting a daily high of $2.64. At the time of writing, XRP trades at $2.55.
The recent surge in buying pressure, marked by a significant green candlestick on the charts, confirms the breakout from the falling wedge.
XRP Forms Bullish Falling Wedge; Analyst Captain Faibik Spots Upside
The falling wedge was first identified and reported by Captain Faibik, a promi…
The post XRP Price Bullish Breakout: Falling Wedge Cleared, Analyst Eyes $3.5-$5 Rally appeared first on Coin Edition.
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XRP Price Bullish Breakout: Falling Wedge Cleared, Analyst Eyes $3.5-$5 Rally
- XRP has broken out of a descending triangle on the 3-day chart, suggesting a bullish reversal.
- MACD shows a bullish crossover while RSI nears overbought, supporting short-term momentum.
- Price targets range from $3.50 to $5, with a bearish invalidation zone below $2.
XRP is showing strong bullish signals as it decisively breaks out of a falling wedge pattern on the 3-day chart against USDT. This bullish pattern is characterized by converging trendlines where the XRP price was making lower highs and lower lows. Such a breakout typically indicates a potential reversal of the prior downtrend and has captured significant market attention.
According to CoinMarketCap data, the trading volume of the XRP token soared 135% to $10.72 billion as prices shot up 5.63% in the past 24 hours with the altcoin hitting a daily high of $2.64. At the time of writing, XRP trades at $2.55.
The recent surge in buying pressure, marked by a significant green candlestick on the charts, confirms the breakout from the falling wedge.
XRP Forms Bullish Falling Wedge; Analyst Captain Faibik Spots Upside
The falling wedge was first identified and reported by Captain Faibik, a promi…
The post XRP Price Bullish Breakout: Falling Wedge Cleared, Analyst Eyes $3.5-$5 Rally appeared first on Coin Edition.
Read More
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