XRP’s ‘bullish divergence’ raises 20% price rally potential in August
Main Idea
XRP shows signs of a potential 20% price rally in August, with key support levels and bullish technical indicators suggesting a possible trend reversal.
Key Points
1. XRP's $2.80–$2.95 support zone is identified as a critical 'make-or-break' level for the next month.
2. A bullish divergence on the four-hour candle chart indicates fading sell-pressure and a potential trend reversal.
3. XRP's daily price chart shows a similar Doji candlestick pattern to one in April that preceded a 65% price bounce.
4. The XRP/USD pair is forming a falling wedge pattern, with a breakout potentially leading to a 20% rally toward $3.60–$3.65.
5. Analysts suggest strong demand near the 200-4H exponential moving average, supporting the bullish outlook.
Description
XRP’s $2.80–$2.95 support zone is emerging as a key battleground, with analysts calling it a critical “make-or-break” price level for the next month.
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