XRP Forms a V-Shape Pattern with $10-$15 Still in Play
Main Idea
Market analysts suggest XRP's V-shaped rebound from $2.97 to above $3.20 signals bullish momentum, with potential for further gains if it holds above $3.17 and breaks past $3.30.
Key Points
1. XRP dipped to $2.97 but rebounded strongly, forming a V-shaped pattern, indicating bullish momentum.
2. Holding above $3.17 could lead to a breakout past $3.30, with potential resistance levels at $3.50 and a retest of the all-time high of $3.65.
3. On-chain data shows XRP's open interest increased by 142%, with long positions gaining traction post-rebound.
4. Analyst XRPunkie suggests XRP could reach $10-$15 in the long term after a 16% pullback from its recent 92% surge.
5. XRP's price action in the coming days will determine whether it breaks through $3.30 or remains pivoted around $3.17.
Description
What does XRP’s V-Shape Pattern Have in Store? Market analyst Joa believes that after dipping to $2.97, XRP staged a strong V-shaped rebound , signaling bullish momentum. Therefore, holding above $3.17 could ignite a breakout past $3.30. Joa believes that this swift bounce signals renewed bullish momentum that could propel XRP higher provided it holds the key support level of $3.17. XRP had briefly plunged to $2.97 earlier this week amid broad crypto market volatility, shaking out weak hands. Ho...
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