The newly technical analysis that benefits from the Ichimoku cloud index indicates that The price of XRP is preparing to go out From the style of long -term descending triangle. While the prices previously Less than $ 2 decreased a signAnalysts are still optimistic about the future view of XRP, forecasting new bullish goals and continuous gathering with the start of bullish signals in the alignment.
The edges of XRP prices towards the main penetration area
The weekly xrp chart, foot By X (previously Twitter) Dark Defender, indicates a possible start of A big emerging step With the encrypted currency approaching the top of A. Cuttering triangle formation. After months of monotheism, the price is now testing the upper limits of this style, with the construction of the momentum from both the price structure and the technical indicators.
The main technical worker identified by Dark Defender is the current XRP interaction with Ichimoku cloud index. Recently, the price of XRP began to storm the lower area of the green cloud – a step that historically precedes the ups of the upward trend when confirming with other technical signals.
The chart also shows XRP to keep a The formation of the cup is round This started after the previous corrective structure called ABC. The formation of the cup enhances this upscale box of cryptocurrencies and suggests accumulation over the past few months. As this cup style approaches, XRP also creates what appears to be the second wave in a rush Five Elliott Sequen.
If Altcoin prices are convincingly collapsing than resistance levels at $ 2.19, $ 2.22, and $ 2.33, Dark Defender expects that the following leg can start immediately, and target the extension of Fibonacci 161.8 % at $ 3.61. This would represent a major shift in the market structure, confirming the potential end of Long -term XRP unification And the resumption of the bullish momentum.
Interestingly, Dark Defender notes that it is expected that June and July are expected to be a “hot” period for XRP. The analyst closely monitors these months to obtain signs a Confirmation of penetrationEssentially, XRP is trading slightly higher than the long -term support area between $ 2.07 and $ 1.88. These levels have stood strong through modern declines as well as compatibility with the level of Fibonacci rate by 26.3 % in the previous cycle.
The path to $ 5.85 open
If XRP collects to $ 3.61, Dark Defender expects that the next stage of The number of the wave is Elliot It indicates that XRP can rise up, which is likely to reach the level of extension of the Fibonacci 261.8 % near $ 5.85. This price area has now appeared as a large goal in the current projection, which represents the upper part of the wave structure 3-4-5.
The analyst’s scheme appears Wave 3 of the five motivation structure wave It extends towards the first goal of $ 3.61. Once this wave is completed, it is expected to be a short -term correction in the 4 wave, it is likely to form a Retreat Before the final leg is higher. The expected wave is expected to be a equivalent step, and it may lead XRP price to a new ATH About $ 5.85.
Distinctive image from Adobe Stock, Chart from TradingView.com
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