XRP Price Confirms Descending Trendline Breakout, Here Are The Targets

Crypto analyst Armando LaVerdad had first called out an interesting setup in the XRP price chart over the ￰0￱ had to do with both liquidity and the formation of a bull flag that both pointed to rising interest in the digital ￰1￱ a result, the bulls have remained firmly in control, and this could signal that the XRP price is ready to continue its ￰2￱ Price Indicators Point To Possible Price Rise In the first post , the crypto analyst pointed out an important liquidity overhang that could pull the XRP price ￰3￱ liquidity overhang sets the groundwork, as the liquidation heat map showed that there were billions in liquidations stacked between $3.8-$4.

This suggests that there is a high possibility for the XRP price to rocket towards this level for whales to take out the ￰4￱ interesting thing was the Bullish Flag formation that had shown up on the daily ￰5￱ flag formations are simple formations that have often preceded a rise in ￰6￱ the XRP price, it was nearing the end of the bullish flag structure, while consolidation tightened and the asset began to test the upper ￰7￱ bullish factors came in the form of indicators actually turning toward the green once ￰8￱ ranged from the MACD moving upward as momentum shifted toward the positive to both the RSI and Stochastic RSI moving from oversold zones.

Naturally, this suggests that there is strength budding underneath the surface to uplift the XRP ￰9￱ From Descending Trendline Puts The Move In Motion In a follow-up post , the crypto analyst shared that the XRP price had actually broken the descending trendline, which it had been previously ￰10￱ break of this descending trendline , coupled with the volume confirmation, carries major bullish implications for the cryptocurrency. Currently, there is now heavy support for the XRP price at $2.8-$2.95, making it the level to beat for bears. However, if the bulls are able to continue holding this level , then the analyst expects the XRP price to hit the first target of $3.20-$3.25, an over 10% increase in ￰11￱ in line would be the major target of $3.50 being ￰12￱ target, according to the analyst, is expected to play out in the next 1-2 weeks, depending on how the digital asset performs with momentum.

Nevertheless, Armando states that ”Momentum indicators are curling up! As long as XRP stays above $2.80, bulls remain in control!”