Welcome to this updated analysis on XRP Let’s get right to it!
The bottom of the triangle is clearly defined by the blue region, and the top is shown in pink. That is a massive triangle, and we just now crept above the top trendline. I’m sure you have all seen the “target area” on my chart. That is based on the breakout of the triangle. To find a simple price target, add it to the breakout point. So, based on the size of the broken-lines, I do think that XRP could reach 1.00 in the near future. Actually, the real breakout occurred in mid-May. And it happened on very high volume. However, XRP turned back down but has managed to grind sideways until it surpassed the top of the triangle. Another thing I would like to draw your attention to is the fact that we have a golden cross on the chart, which is a longer-term bullish indicator.
I believe it’s possible that XRP could eventually reach the $60 range or higher, as crypto adoption increases. One thing is for sure, the next few years are going to be very exciting. One last thing to note is the fact that there is a bullish divergence on the MACD. Overall, momentum has printed higher highs (between November and May) while the price has printed lower highs. So there is a bullish divergence on the momentum, suggesting that we could see a surge in price that would reflect the increasing momentum Also, XRP is above the EMA ribbon, but we could see another test of the ribbon/top of the triangle before finally breaking out above the 0.45-0.46 resistance area.
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