RATE Group | XRP Breakout Imminent Based on Several Technical Patterns
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XRP Breakout Imminent Based on Several Technical Patterns

14 Dec XRP Breakout Imminent Based on Several Technical Patterns

Posted at 01:06h in Cryptocurrency News by

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  • XRP’s price has been stagnant for a while.
  • Multiple technical patterns estimate that an upswing is underway.
  • A spike in sell orders could be catastrophic.

XRP has been contained within a narrow trading range over the last 20 days.

Now, several technical patterns are estimating that this cryptocurrency could be bound for a bullish impulse.

XRP has been consolidating for the past 20 days. | Source: TradingView

XRP shows multiple bullish signs

Since Nov. 22, XRP has been trading within two parallel lines based on its 12-hour chart. Every time it drops to the lower edge, it moves back to the upper one. But, when it surges to the upper line, it pulls back to the lower one.

XRP is contained within a parallel channel. | Source: TradingView

The rebounds from the lower boundary of the parallel channel appear to have been predicted by the TD sequential indicator. This technical index presented a buy signal in the form of a red nine candlestick on Nov. 26. The bullish formation was…

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