After months of lateral movements, the XRP price seems to be drawn up for an explosive breakthrough. Analysts point to a symmetrical triangular pattern that his peak is approaching. Will the long -awaited “moontime” follow soon?
Technical pattern points to large outbreak
Since January, the XRP course has been a symmetrical triangular pattern on the weekly graph, characterized by higher soils and lower tops. This indicates increasing pressure in the market. The pattern originated after the peak of $ 3.39 at the beginning of this year. Since then, the race moves in an increasingly smaller bandwidth, while the trade volume is gradually decreasing. A classic sign of consolidation – often the prelude to a powerful outbreak.
According to the well -known analyst Cryptobull, this is the “last week of consolidation”. He expects XRP to break out next week and the long -awaited increase. “Next week will be Moontime,” he writes on X.
XRP price clashes with crucial resistance
The course is currently moving just below the 200-day advancing average, an important resistance line.
According to the Cryptobull graph, the course is still within the limits of the symmetrical triangle. An outbreak above the upper trend line would be a powerful bullish signal and possibly give the starting signal for a new bullrun. However, if the price breaks down from the pattern, it can lead to a strong correction. The pressure on the stew line is therefore crucial for the further price trend.
Source: https://newsbit.nl/xrp-staat-op-knappen-volgende-week-is-het-zover-zegt-crypto-expert/
