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The XRP price is preparing once again for an explosive movement towards $ 3. with the aim of Get out from its consolidation phaseThe XRP price action suggests that a mass demonstration could be just around the corner. The analyst who predicted this upward movement is still widely optimistic about XRP’s future perspective. However, he has also warned that a falsification and a subsequent price breakdown are possible.
The XRP price is prepared for MoNshot towards $ 3
In a 1 -hour graph analysis, Arshevelev, a cryptographic analyst in TrainingView, revealed that the XRP price has been forming a sequence of strict consolidation patterns. The triangular color formations in the price table highlight each consolidation pattern formed in recent weeks. These triangles show that the price action has moved sideways, which indicates indecision before a break.
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With XRP established in Breakout From its current consolidation pattern, Arshevelev predicts that cryptocurrency could soon increase the $ 3 brand, which represents a 37% increase with respect to its current market value. At the time of writing, the XRP price is around the $ 2.19 brand after recovering sharply from a Critical Support Zone about $ 2.05. The $ 2.05 support zone is identified as an essential level, since a previous rest would maintain the present bullish structure of the Altcoin.
In the future, the table of commercial versions shows a general upward trend, with a price action respecting the growing XRP support line. A new consolidation triangle It has been formed, and if history is an indication, XRP could break up this pattern, pointing to an initial price level of $ 2.36.
A bold arrow of “Highway To Moon” in the price table points to a successful break that could boost the price towards a higher price level of $ 2.6 and perhaps even trigger a broader rally at $ 3. In its analysts, Arshevelev high Keep it.
Altcoin bullish configuration: Breakout or Fakeout?
While XRP technical configuration And the possible rupture of consolidation seems promising, Arshevelev has advised caution since the market can be unpredictable. Cryptocurrencies are known for their volatilityAnd the failed outbreaks are not uncommon, especially when the price is just below the resistance for too long.
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If XRP does not break above the resistance level of $ 2.29 convincingly, the analyst Project a strong breakdown to the support zone of $ 2.21. The additional setback could open the doors for a price drop even greater than the important support, some at $ 2.05. This potential price decrease It is described as a “falsification“, Since XRP gives the illusion of embarking on a rally, but instead is invested sharply.
Therefore, although the technical indicators favor an upward break in the XRP price, the tradingView analyst still questions if it could lead to a break to the new maximums or finally result in a falsification.
MEDUM OUTPUT IMAGE, TRADINGVIEW.COM GRAPHIC
