Ripple Bull Market Chart Analysis
#XRP High Timeframe Analysis
🔹 Current Setup:
XRP
is consolidating within a symmetrical triangle formation on the higher timeframe, with the 200 EMA slope remaining neutral, signaling potential continued range-bound movement.
🔹 Key Observations:
- Price has tested the support level multiple times without a definitive breakdown, hinting at a possible bullish breakout.
- A strong breakout above the pattern resistance, with a confirmed candle close above $0.6639, would signal bullish momentum, opening a pathway toward $1.4065 as the primary resistance/target level.
🔹 Trade Setup:
- Long Position: Await a candle close above $0.6639 to confirm bullish continuation.
- Invalidation: If the price breaches the support and closes below $0.4302, this setup will be invalidated.
🔹 Current Setup:
XRPis consolidating within a symmetrical triangle formation on the higher timeframe, with the 200 EMA slope remaining neutral, signaling potential continued range-bound movement.
🔹 Key Observations:
- Price has tested the support level multiple times without a definitive breakdown, hinting at a possible bullish breakout.
- A strong breakout above the pattern resistance, with a confirmed candle close above $0.6639, would signal bullish momentum, opening a pathway toward $1.4065 as the primary resistance/target level.
🔹 Trade Setup:
- Long Position: Await a candle close above $0.6639 to confirm bullish continuation.
- Invalidation: If the price breaches the support and closes below $0.4302, this setup will be invalidated.
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