The post It’s Not Over for XRP, Price Paints Important Pattern 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 appears to be painting a crucial pattern on the price charts that could signal a forthcoming period of significant volatility and potentially a new breakthrough. Currently, XRP is consolidating around a substantial support level at approximately $0.60, an important threshold that has previously acted as both support and resistance. This zone is proving to be a main battleground between bulls and bears, and its endurance could lay the foundation for XRP’s next big move. The steadfastness of this level is a testament to the enduring faith of XRP holders, who seem prepared to defend this threshold against market sell-offs. XRP/USDT Chart by TradingView In the short term, XRP is battling with moving averages that are converging into a tight range. These include the 50-day and 100-day moving averages, which XRP must convincingly break above to signal a shift from consolidation to an uptrend. A decisive closure above these averages could act as a launchpad, propelling the price to test the local resistance level near $0.65. This resistance has previously capped upward movements, and a break above it could clear the path to higher valuations. Adding to the mix is the formation of a symmetrical triangle, which is indicative of a market coiling up for a significant move. These patterns are often associated with a surge in…

---

Filed under: News - @ December 1, 2023 9:26 am