XRP Shows Promising Bottoming Structure Against Bitcoin; Potential for Short-Term Gains
The post XRP Shows Promising Bottoming Structure Against Bitcoin; Potential for Short-Term Gains appeared on BitcoinEthereumNews.com.
XRP’s technical analysis reveals a classic bottoming structure and potential short-term gains against Bitcoin. XRP has appreciated by 2.33% recently, suggesting a possible upward trajectory if bullish momentum continues. Analysts predict a significant rally for XRP, with forecasts suggesting a +41,400% increase, potentially surpassing $150. Recent analysis of XRP (Ripple) against Bitcoin (BTC) highlights a significant shift in market dynamics, suggesting a potential short-term surge in XRP’s value. Analysis of the XRP/BTC trading chart from Binance over three-day intervals reveals that XRP has recently formed a classic bottoming structure and successfully broken through a major downtrend resistance. This development could signal that XRP is poised for substantial gains, potentially doubling in value against the U.S. dollar in the near term. #XRP printing a classic bottoming structure (Vs BTC) and flipped major downtrend resistance. It has the fuel to 2x (Vs USD). It usually does so very quickly (within 2-3 days). Should be an interesting week, esp if BTC behaves 🙂$XRP pic.twitter.com/DSfISdMa0j — LE₿ C®️YPTO (@leb_crypto) July 20, 2024 Analyst LEB notes that the XRP/BTC chart displays key Fibonacci retracement levels, including 0.236, 0.382, 0.5, 0.618, and 0.786. Recent price action shows XRP appreciating by 2.33%, reaching 0.00000879 BTC. The chart also illustrates periods of consolidation and previous downtrends, with recent green circles marking potential recovery phases. These technical indicators suggest that XRP might face resistance at certain Fibonacci levels but also highlight a potential upward trajectory if the current bullish momentum continues. Source: LE₿ CRYPTO Reflecting on recent observations, analyst JAVON adds that XRP appears to be on the verge of a major bullish breakout. If the market continues to show strength, XRP could experience a substantial rally. Some forecasts suggest that XRP might achieve a logarithmic follow-through, potentially leading to an over 41,400% increase and a price exceeding $150.…
Filed under: News - @ July 22, 2024 6:12 pm