XRP Forms Bull Flag Pattern, Analyst Eyes $23 End-of-Year Target

The XRP price is exhibiting a bull flag pattern on its weekly chart, indicating potential for a significant breakout. Analyst Stedas highlights the $3.6 resistance level as crucial. Clearing this could lead to an end-of-year target of $23, with steps at $6 and $13.

Key Points

The bull flag pattern suggests a continuation of XRP's upward movement after recent sideways trading.
XRP recently reclaimed $3 but has slipped to $2.97 following a 3.5% decline in the last 24 hours.
If the technical analysis aligns with market sentiment, a major rally could occur in the coming weeks.

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XRP Mid-term Outlook

According to Rose Premium Signals, XRP's recent bounce off the 0.5 - 0.618 Fibonacci retracement zone strengthens the bullish case. An entry zone between $2.85 and $3.05 has been tested, suggesting a strong support level and potential climb to $4.67 as the next target.

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