After a pointed break below the level of support $ 2 last week, which surprised investors, The price of XRP is again and wants to break free to another height. This is emphasized by the analyst on the TradingView website, which explained that XRP is making earnest progress after recovering. This includes the creation of stubborn candles that show that the rush is growing, probably to support recovery.
Why the price of XRP has become stubborn
Many stubborn events remained Highlighted By a cryptographic analyst who suggests that the price of XRP is stubborn. One of them is the formation of a classic cup and handle, which was demonstrated by an analyst, which was created on a larger time frame. Interestingly, it would not be the first time Altcoin did it, and history shows that this usually happens before a violent growth.
According to the analyst, in the previous time, in which the price of XRP showed something like that, the result was leisurely and then a quick transition to the next re -test. At the current level, this means that if this formation takes place as last time, Altcoin can look and check the USD 2.33 again as the next main level of resistance.
After breaking this resistance, it is expected that the XRP price will test the next main competition point, which is USD 3.02. To do this, the analyst explains that he would have to break free with the appropriate volume, which could cause a quick push from USD 2.33 to USD 2.59 before he sets out for USD 3.02. Then they explain it Bulls could have a step When the price begins to hit the upper range.
In addition, higher time frame structures also showed a gradual distract. This price boost, although leisurely, but enduring, shows the possibility of growing towards the level of USD 3.40. This makes it extremely close to USD 3.8, which have not yet been broken over the past seven years.
In the case of XRP, there is still bears for XRP, in which support of USD 2 will fail again. The disaster can again send the price in the direction of $ 1.5. However, the cryptographic analyst emphasizes that the current structure is tidy. Moreover, as Momentum rises and keeps supportWithout disruption from macro moods, a cryptographic analyst believes that “XRP shows all signs of classic stubborn configuration of re -configuration.”
A distinguished picture from Dall.e, chart from tradingview.com
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