Expert Says XRP Dominance Still In Most Bullish Formation. Here’s What to Expect
Main Idea
Crypto analyst EGRAG CRYPTO highlights that XRP Dominance is in a bullish formation, with key levels and potential breakout targets outlined.
Key Points
1. XRP Dominance is currently navigating a crucial threshold above 4.5% to maintain its bullish pennant formation.
2. The chart shows XRP has moved above a long-term resistance zone, with key support levels tested multiple times.
3. A successful hold above the 4.5% to 5.75% support region could validate a bullish turn, with potential targets at 21% and 27% dominance.
4. EGRAG CRYPTO identifies a 'VOID' region lacking major historical resistance, which could allow XRP to enter a price discovery phase.
5. Projected price targets for XRP include $13.34 and $17.15, based on Fibonacci extension levels.
Description
XRP Dominance is once again in a defining moment, with its current structure on the monthly time frame suggesting a potential for significant upward movement. According to prominent crypto analyst EGRAG CRYPTO (@egragcrypto), the digital asset’s market cap dominance remains in what he describes as “the most bullish formation.” The accompanying chart illustrates a long-term bullish pennant pattern , a setup that historically carries a strong likelihood of breaking upward, typically between 60% an...
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