- A bullish pennant pattern indicates that sellers might build support at the bottom.
- XRP price has risen when the Stochastic was far over 20.
Since the start of the great Q4, the crypto industry has been demonstrating ebb and flows. Following the major currency run, gains seem to be rising across multiple cryptocurrencies. Notably, Solana, Polkadot, and Cardano have been preparing for third place. However, Ripple (XRP) pricing is calmly waiting to displace other cryptocurrencies.
Since the start of Q4, Ripple’s (XRP) price has maintained a steady upward trend. This is despite the platform taking advantage of the chance to lay the framework for a future masterpiece.
The platform’s current fostering growth has backed the pricing momentum in recent weeks. So it’s time to quit listening to generalizations and focus on price patterns. Crypto expert Jaydee_757 gave fascinating forecasts for the near-term XRP pricing.
A bullish pennant pattern indicates that sellers might build support at the bottom and subsequently price reversal to higher highs. The graphic has remembered earlier historical occurrences. After Stoch RSI crosses over 20, price momentum increased 74x to $0.287 from $0.00568 in 2017. Stock RSI over 40 increased the price 14x from $0.20 to $2.19.
Bullish Pennant Formation
Ripple (XRP) price has risen when the Stochastic was far over 20 and accompanied by a bullish pennant formation. However, the cryptocurrency is on the brink of breaking out of a bullish pennant formation.
As for probable entry and exit points, the analyst predicts the greatest chance to hold for the long term is between $0.50 and $0.83. Sell targets are $8.92 (2.6187 Fib) and $14.28 (4.618 Fib).
The XRP price may rise if the case against Ripple is resolved in its favour. However, despite widespread fear, institutional inflows have reached $54 million. According to CoinMarketCap, the XRP price today is $1.14 USD with a 24-hour trading volume of $3,514,775,060 USD.
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