CandleFocus XRP Nears Breakout: 7-Year Triangle Formation Signals Potential Surge
2024-09-18
Author: Content Editor
According to Tony Edward, the founder of ThinkCryptoPod, XRP is at a critical point and could see a significant price shift. Analyst CrediBULL Crypto notes that XRP has been consolidating within a symmetrical triangle formation on its long-term chart for nearly seven years, indicating the potential for a breakout. The consolidation phase could lead to a dramatic shift in XRP's price trajectory. XRP has strong support at $0.30 to $0.35 and faces resistance at $0.80. A breakout above this level could signal a bullish trend. The trading volume for XRP is decreasing, but a breakout accompanied by a volume surge could confirm a bullish shift. On the downside, a breakdown below $0.50 may test lower support levels. At the time of writing, XRP's price is at $0.589538, up 1.61% in the past 24 hours.
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