Ripple’s Support at $2,249 Can Increase to $4 If…
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- XRP is currently above a critical support zone within a defined consolidation channel, indicating the possibility of an upward movement.
- Technical indicators imply that XRP’s next rally may not be immediate as the asset continues to find stability.
After a significant 334.27% surge last month, Ripple[XRP] has paused to consolidate within a certain range. This phase has produced a minor decline of 0.76%, which analysts view as a healthy correction.
Despite the present slowdown, AskFX highlights a strong likelihood that XRP will soon break out to higher levels.
XRP looks for 66% increase – here are key factors to monitor
Following XRP’s recent rise, the asset is momentarily taking time to gather momentum for its upcoming uptrend.
XRP is now trading inside a symmetrical triangle—an established consolidation pattern formed by converging support and resistance levels.
The ongoing rally shows resilience as robust support at 2.2499 prevents any substantial decline, stabilizing the asset through its consolidation stage.
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Analysts anticipate that if XRP breaks from this pattern, it could achieve an additional gain of 66.83%, pushing its price up to $4.0706; buying pressure might wane at this juncture. Is an XRP rally on the horizon? Current technical readings indicate that an expected breakout may not transpire shortly. p >
The Chaikin Money Flow indicator reveals negative market sentiment due to liquidity inflows or outflows with values recorded at -0.04, signifying insufficient purchase interest required for sustained upside movement p >
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