The sudden buying pressure in the crypto market encourages XRP price for a bullish breakout from the flag pattern. This pattern consists of a bull rally market by a long pole and a minor correction face between two downsloping trendlines. Thus, the technical step-up offers a directional rally target the same distance as the length of the pole.
Key points:
Low volume retest to the breach trendline indicates the traders are betting on long position trade.
The crucial EMAs(20, 50, 100, and 200) trading above the coin price creates multiple resistance against a price rally.
The intraday trading volume in the XRP price is $807 Million, indicating a 27% loss.
Source- Tradingview
Amid the recent uncertainty in the crypto market, the XRP coin showed a minor correction from the $0.41 resistance. However, the daily technical chart revealed this minor pullback was a part of a flag pattern.
In theory, this bullish continuation showcase a minor retracement between the two downsloping trendlines.
We współpracy z: https://coingape.com/markets/bullish-pattern-breakout-set-xrp-price-for-30-rise/
