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June 15, 2024
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XRP Price May trigger a Massive Upswing- This is When it Could hit $1!

The post XRP Price May trigger a Massive Upswing- This is When it Could hit $1! appeared first on Coinpedia Fintech News

The XRP price has begun to consolidate just below $0.4 levels after facing constant rejections. The price again dropped back to $0.38 and the current trade set-up indicates the price is poised to test lower targets in the coming days. However, the markets have again turned green at the moment due to which the price could be expected to rise above the consolidation very soon. 

XRP price ever since has marked the 2021 highs close to $2 and has been trading within a bearish, falling wedge. Despite multiple attempts, the price has failed to break above the consolidation. However, the bull appears to have accumulated enough strength at the moment and hence a significant price spike is about to happen.

Trading View

A well-known analyst, Tolberati believes that the XRP price is closer to doubling its price first to hit the symmetrical triangle’s POC which is around $0.81 or even higher close to $0.94. These zones are among the high liquidity zone. Therefore, after bulls break above these levels, then they are believed to break above $1 levels, post to which XRP price may trigger a fine bull run. 

The analyst also highlights the formation of the head and shoulders pattern that failed as the price continued to move within a falling wedge pattern. The price is consolidating exactly at the wedge’s trendline and hence a bullish-green candle may occur any time from now. Moreover, the Elliott Wave analysis indicates the formation of a 3-wave structure everywhere. 

 Therefore, the XRP price has been maintaining its own trend and surging hard amid the bullish market sentiments. However, this time the bulls are expected to hold the price up.

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