CandleFocus Ripple Price Analysis: XRP Could See Massive Bull Run if it Breaks Above This Level
2024-09-24
Author: Content Editor
Ripple (XRP) recently saw a surge in buying activity, pushing its price towards $0.6. However, the upward momentum has stalled, and the price is now consolidating sideways. XRP is currently trading within a range of $0.55 to $0.64, indicating that the consolidation is likely to continue in the short term. The price has formed an ascending wedge pattern on the daily chart, with resistance at $0.64 and support at $0.55. A breakout from this range will provide clearer signals on Ripple's mid-term trend. If the $0.64 resistance is reclaimed, it could trigger a short-squeeze and potentially lead to a bullish shift. On the 4-hour chart, XRP is consolidating within a bullish flag pattern, with support near $0.5 and resistance at $0.6. Breaking above $0.6 would target the critical resistance at $0.64, while a rejection could send the price back towards the $0.55 support region.
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