The price of XRP recently showed a lot of strength, and during the weekend withdrawal it did not beat the support for $ 2. It showed that Bulls took the control completely At this point, providing a backup needed for proper growth from here. As the consolidation continues, the price of XRP creates a stubborn channel structure. The detachment from here grows more likely, and the result would be fresh monthly peaks.
The price of XRP has a canal structure
Viprose cryptographic analyst indicated An captivating structure that has been created on the XRP price chart, which it still maintains. The price of Altcoin is popular in the growing channel, which was created with the decline of the market. In addition, Altcoin also managed to maintain the middle line support at 0.618 Fibonacci, which is very stubborn at this price.
The reason for this is that the level of 0.618 Fibonacci has always been a point Partish recovery for the price of XRP in the past. As the cryptographic analyst explained, he often acted as a start, and keeping at this level always provided support for forceful movement up. So, because the price of XRP will persist here, it is likely that it will be a reflection point for further recovery of prices.
The created channel is particularly critical, taking into account the fact that the Bulls have already established forceful support. From then on, it is more likely that the XRP price would move to testing the levels of resistance at the upper ends, and the support levels will not drop.
First of all, the price of XRP would have to spotless $ 2.4, which showed the greatest resistance, as you can see from last week of growth and the subsequent bear trend. The analyst suggests that as long as the price maintains key support levels at USD 2.18-2.22, which are aligned with critical levels 0.618 and 0.786 Fibonacci, the next step is the continuation of the stubborn.
How high can the price be?
If the stubborn continuation is confirmed, it is expected that the price of XRP will enhance from here. At least 10% of traffic is likely because the resumption of the trend has been confirmed. As the price increases, Altcoin is to go towards the peaks from January.
The cryptographic analyst explains that based on the expected movement of the height of the canal structure. Place the price of XRP up to USD 2,9206. It would be over 20% traffic and the first step towards testing fresh ups of all time. “Watch out for confirmation of volume in rejection – the configuration remains important as long as XRP remains above key support,” summed up the analyst.
A distinguished picture from Dall.e, chart from tradingview.com
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