XRP: Potential for Soaring Prices Amid Emerging Technical Pattern
In the ever-volatile world of cryptocurrencies, investors are always on the lookout for the next big thing. Recent developments and technical analysis surrounding XRP suggest that the digital asset could be poised for significant gains in the NEAR future. Here’s a closer look at what’s driving this optimism.
XRP Price May Soar to $17 with Emerging Pattern
XRP is currently trading at $2.12 and has stayed above the important $2.00 support level. It has increased by about 3% in the last 24 hours, indicating positive momentum. The coin tested the support zone but bounced back, suggesting active buyers. This bounce implies the market might be recovering from the recent downturn. Analyst Egrag Crypto notes that XRP is forming an Ascending Broadening Wedge pattern, suggesting a potential decline to $0.65 or a rise to $17. For a bullish breakout, XRP must close above $3.50.
XRP at Make-or-Break at $2.24 Zone: Potential Surge to $17.50?
Ripple’s native token, XRP, is showing early signs of a powerful trend reversal. Market observer CasiTrades noted that XRP has reclaimed the 0.786 Fibonacci retracement level at $2.05, signaling buyers are returning. Focus now shifts to the crucial $2.24 zone, which aligns with both micro and macro trends. Technical analysis reveals diverging probabilities: one structure indicates a potential surge to $17.50, while another warns of a fall to $0.65.
XRP Lawsuit: Odd Filing Sparks Speculation, Ex-SEC Lawyer Weighs In
The XRP lawsuit has taken another unexpected turn with an odd filing requesting decisive evidence supporting Ripple. However, former SEC lawyer Marc Fagel has stated that Judge Analisa Torres’ ruling will not be reversed, despite speculation in the crypto community that she might reconsider. Many are still trying to understand the implications of this new filing on the case.
XRP Price Gearing Up For Reversal, TD Sequential Flashes Buy Signal?
The price of XRP has been on a steady decline since March 26, continuing its bearish trend with lower highs and lower lows. Despite the continuous sell pressure, the price declined from a high above $2.40 to just above $2.00 by April 2 and remains above $2 as of April 5. Traders observed a TD Sequential buy signal on April 3, which identifies potential trend exhaustion and may suggest a shift in market direction. The TD Sequential “9” appeared beneath the latest daily candlestick, signaling the end of the current downtrend. However, Ali Martinez emphasizes that XRP must maintain a position above the $2.00 support level to validate this signal. The formation of smaller candlesticks in recent sessions further supports this potential reversal.
