The cryptocurrency XRP is showing signs of setting up for another big rally, according to the price chart and options market. Although XRP has experienced a 10% drop this week, it has formed a bull flag pattern, which typically signals a recharge for further gains. Technical analysis suggests that if XRP breaks out of this pattern, it could rally to $5. Activity is increasing in the $5 call options, indicating bullish sentiment and potential upside. However, it's important to note that technical analysis patterns don't always work as intended, and market sentiment should also be considered.
- Content Editor ( coindesk.com )
- 2024-12-11
A Bullish XRP Flag Emerges as $5 Call Options Heat Up: Godbole