XRP Price Forecast Suggests 14% Upswing to $3 Target
A crypto analyst forecasts a bullish outlook for XRP, targeting around $3 in the short term.
Short-Term Price Analysis
- Analyst Ali Martinez suggests a potential 14% price increase for XRP based on a symmetrical triangle pattern observed on the 1-hour chart.
- This pattern features a falling upper trendline and a rising lower trendline, indicating possible price movement toward an apex.
- Typically, symmetrical triangles signal continuation, suggesting an upward price trend may follow a breakout above the upper trendline.
- Confirmation of a bullish breakout requires at least two candlesticks closing above the upper trendline.
- The projected price target is derived from adding the triangle's base length to the breakout point.
XRP Current Status
- XRP is currently priced at approximately $2.55, down over 1% in the last 24 hours.
- The asset has seen nearly a 10% decline over the past week, despite strong performance prior to this period.
