XRP Price Could See 20% Bounce To $3.4 If This Trendline Holds

The XRP price is still showing bullish momentum despite the previous wave of ￰0￱ falling below $2.8, a quick bounce was able to reclaim this level once again as support, putting it on a path lined with further ￰1￱ the formation of an ascending trendline, the XRP price may be sitting on a ticking time bomb primed for explosion, and this would send it back toward its July peaks as bulls find their way back into the market ￰2￱ Price Breakout Could Notch 20% Gains The analysis from CMF Trading Point shows that the XRP price is at a critical level after the formation of an ascending trend ￰3￱ trend line has always been bullish, and with the return of bulls, it might be as bullish as it ￰4￱ this, the crypto analyst has given a reasonable target for where the XRP price could be headed ￰5￱ Reading: Bitcoin, Ethereum Open Interest Are Sitting Close To ATH Levels, What Happened Last Time?

Since the price is currently needling around the $2.82 level, it shows that there is still strength after the bulls reclaimed the $2.8 ￰6￱ this level holds and the ascending trendline breakout is completed, then the first target from here is for the XRP price to reach $3. Once this first target is achieved, then the price can quickly move on to the next target, which lies at $3.40. A completion would mean a 20% total increase, while still providing room for a possible ￰7￱ momentum holds, it could set the XRP price on a path to new all-time ￰8￱ Happens If The Ascending Trendline Fails To Hold? In the event that the ascending trendline fails and the XRP price falls further, then it could spell a period of downtrend for the ￰9￱ analyst explains that the XRP price actually needs to stay above $2.20-$2.25 for the bullish breakout to remain valid.

Otherwise, it would mean ￰10￱ Reading: Cardano Founder Says Chainlink Quoted Them An ‘Absurd Price’, Here’s Why A breakdown below this level would trigger the start of another downtrend that could send the price spiraling toward $2. If sell-offs continue to pile on at this level, then XRP could crash below $2, leading to another bear ￰11￱ image from Dall. E, chart from ￰12￱