Urgent: XRP Finally Getting Ready To Join The Crypto Bull Run! Watch This Key Pattern
For weeks now, we have seen the crypto market experience a massive bull run that has played out across the board. However, there are still a few Altcoins that have been left behind in this bullish rally and XRP is one of them.
While the crypto market was having December rally, the XRP price on the other hand has been ranging and trading sideways for weeks now! This ranging market as created what looks like a bullish converging pattern on the Daily timeframe.
In this XRP analysis, we will be breaking down what the emergence of this key pattern means for the XRP price in the coming day and the key levels we are currently watching.
The Calm Before The Raging Storm.
The image above is a clear example of the converging pattern we are currently tracking on the XRP Daily timeframe. In the coming weeks, we expect to see the XRP price create a similar price structure to the one above.
If this bullish prediction plays out there is a very high probability that we might see a massive bull run occur on the XRP price chart in the coming days as the Altcoin joins the bigger bullish run that has been occurring in the crypto market for months now.
So for now, we are keeping a close eye on this Converging pattern in the Daily timeframe and waiting to see our bullish confirmations to indicate the start of the price push higher.
Key levels To Watch Out For On XRP
The most important level to watch out for is the XRP channel resistance. This key resistance is one of the parts that make up the bigger converging pattern we are currently tracking on the Daily timeframe.
For the XRP bull run to begin, we need to see the Altcoin price breakthrough this key resistance and continue to push higher on the Daily timeframe. A bullish breakout like this confirms the end of the ranging market and indicates the start of the XRP bullish rally.
However, the XRP price is still yet unable to break through this resistance just yet. So for now, we will continue to stand aside and watch this key pattern develop. We will only look to take advantage of this move once we see a price breakout from the pattern.
New to the idea of leverage trading? Check out this article list:
- A Beginners Guide to Crypto Leverage Trading
- A Step-by-Step Guide on Placing your First Crypto Leverage Trade on Bybit. Introduction
- 5 Steps To Finding The Crypto Investment Style That Suits You. Beginners Guide
Ripple Overview: What Is XRP?
Created in 2012, XRP was initially known as OpenCoin till 2013 when it officially had a name change. This Ripple crypto coin was created with just one purpose in mind;
To change the way the Banking system operates and introduce a better, more advanced way for Banks to carry out borderless payments all over the world”
Unlike most other cryptocurrencies, XRP was not created as an Alternative to Fiat money or a peer-to-peer competitor to traditional finance, instead its goals was to introduce a totally new and Alternative banking system that could essentially
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