CandleFocus XRP Eyes $9 as Stoch RSI Finally Breaks 14-Month Downtrend
2024-09-12
Author: Content Editor
XRP is showing signs of a potential price breakout as its Stochastic RSI breaches a downtrend that has been ongoing for over a year. This development comes during a period of market uncertainty, indicating that XRP is showing strength. The chart analysis suggests that XRP could surge as high as $9+ as it enters the final leg of an Elliott Wave structure. Additionally, a symmetrical triangle formation on the chart supports this bullish outlook, with a breakout expected. The XRP volume profile indicates a strong support base between $0.20 and $0.30. However, the traditional RSI confirms market uncertainty, although a breakout could push it above 70. Currently, XRP is trading at $0.5377.
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