The post XRP Chart Pattern Warns of Incoming XRP Price Swings appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. XRP, the fourth largest cryptocurrency, could be gearing up for significant volatility if a key chart pattern holds. CoinsKid, a market analysis-focused X account, noted in a recent tweet that XRP’s current chart setup might suggest a major price move is on the horizon. Highlighting a pennant forming on the XRP price chart, the analyst added, “There is a move coming here for XRP.” Unfortunately It looks as though #xrp is creating a bear pennant on the daily timeframe. Pennants tend to be continuation patterns. Compression leads to expansion. There is a move coming here for $xrp ⏳️👀 pic.twitter.com/6mALhpybSA — CoinsKid (@Coins_Kid) January 11, 2025 Pennants are continuation chart patterns that occur after strong moves. After a big upward or downward move, buyers or sellers usually pause to catch their breath before pushing the price in the same direction. Because of this, the price typically consolidates and forms a tiny symmetrical triangle, known as a pennant. Related The analyst highlighted in a chart a possible breakout from the pennant pattern that could propel XRP’s price to $4 — a 70% increase from its present value. XRP price action XRP continues to trade within a symmetrical triangular pattern, suggesting a balance of supply and demand. At the time of writing, XRP was trading in green amid an ongoing…

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Filed under: News - @ January 11, 2025 11:27 am