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XRP Finally Moves Close to a Major Squeeze: Here Are Possible XRP Targets

Author: Content Editor
The XRP chart against Bitcoin suggests a potential major squeeze is on the horizon, as indicated by crypto analyst MichaelXBT. The chart shows converging trend lines and wedge formations, signaling that XRP is nearing a moment of volatility. The analyst identified descending and symmetrical triangles that have formed since mid-July, with XRP slowly recovering against BTC and forming an upward symmetrical triangle. The market has been relatively flat in terms of volume and volatility, but the converging patterns on the chart suggest a big move ahead. The analyst believes a "squeeze" is imminent, leading to a large price movement once key levels are broken. However, no price targets were given. MichaelXBT has been bullish on XRP recently, with a target of around $2. He plans to maximize profits from XRP's expected rise and diversify into other altcoins. XRP has been stalled at the "7-year pennant resistance," but the analyst is confident in a major breakout. He emphasized the importance of the $0.62 level for an XRP rally. Currently, XRP is trading at $0.5366, a 1.4% increase in the past 24 hours.

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