Trader Predicts Monster XRP Rally Ending in $2 “Blow-Off Top” by July
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- According to CoinsKid, XRP appears to be setting up for a potential rally.
- CoinsKid revealed a confluence that could trigger an XRP move towards $2 by July.
- XRP has repeatedly bounced off an ascending trendline for over five years.
According to a crypto trader identified as CoinsKid on X, XRP appears to be setting up for a potential rally in what he described as a “blow-off top theory.” In a recent post, CoinsKid discussed a confluence that could trigger an XRP move towards $2 by July this year, with the potential of breaking above the long-term resistance.
Taking a look at the #xrp chart on the monthy, Is this more confluence to my blow-off top theory in July of this year for RISK appetite #bitcoin #xrp #sp500 #dxy #ethereum
— CoinsKid (@Coins_Kid) March 6, 2024
3 points of contact breakout.
Good luck allpic.twitter.com/lzKG4Je6h1
CoinsKid based his analysis on XRP’s monthly chart, tracking back to January 2018, when the price crashed below $2. He used a screenshot to show that XRP attempted to retest the $2 region only once after the crash, in April 2021. Hence, the XRP $2 resistance level hasn’t been broken for over five years.
The trader …
The post Trader Predicts Monster XRP Rally Ending in $2 “Blow-Off Top” by July appeared first on Coin Edition.
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