CandleFocus Expert Says Prepare for XRP Violent Crash as Weak Trendline and Extended Distribution Spell Trouble
2024-09-24
Author: Content Editor
Seasoned analyst Jackis has issued a warning about the outlook for XRP, suggesting that it could be on the verge of a "violent breakdown." He points to technical indicators, such as a prolonged distribution phase and a potential head-and-shoulders pattern, as evidence of trouble for the altcoin. While some believe this consolidation phase could lead to a significant price increase, Jackis argues that a breakdown is more likely. However, upon closer examination, it appears that Jackis may actually be sarcastically bullish on XRP, targeting a price of $1 in the near future. Despite skepticism about XRP's performance, many analysts predict a notable breakout in this cycle, although opinions differ on the peak price.
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