CandleFocus XRP Continues to Follow 2017 Fractal, with Target Exceeding $16
2024-10-05
Author: Content Editor
Market analyst Lud has shared a fractal-based analysis suggesting that XRP could replicate its price trajectory from 2017. Lud identified a repeating fractal from XRP's 2017 price action, indicating that the cryptocurrency might follow a similar trajectory in 2024. The analysis utilizes Fibonacci retracement levels and highlights XRP's consolidation period in 2017, where symmetrical triangles suggested a potential breakout. Despite regulatory challenges, Lud projects that if XRP follows this historical fractal, it could achieve a breakout and rise to $16. The updated analysis indicates that XRP has remained within a range, exhibiting consolidation around $0.50 and holding key support levels, suggesting it is building momentum for its next big move.
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