XRP is looking like it’s reaching its make or break point for a breakthrough or at the very least a breakthrough at this time. cryptocurrencies are emerging with fluctuating market caps and a new monthly liquidations.
While XRP remains stagnant, the technology shows the potential for significant price fluctuations is high. The
Ripple XRP token has been narrowing over time and continues to consolidate within a narrow trading range.
The 6th largest crypto price action in the last 20 days seems to have led to the formation of a symmetric triangle. A downtrend line can be drawn along a swing high An uptrend line develops along a swing low
As XRP approaches the apex of the triangle, it is suggesting that a large spike in volatility is about to occur. A measure of the height of the y-axis of the technical pattern added to the breakout point predicts a price change of 31.7% in either direction. It is only the daily candlestick outside the $1.17 to $1.10 range that determines where
XRP goes next. The asset could rise to $1.55 as a result of a surge in accident pressure resulting in breaking the resistance of overhead, but lose the $1.10 level as support could lead to a correction at $0.75. Despite the dubious outlook of a symmetric triangle, behavioral analytics platform Santiment data shows that whales are taking profits.
About 5 whales have left the network in such a short period of time to redistribute their tokens. The sharp decline in the
network’s investors is a negative sign of a sustainable uptrend, especially considering they hold more than $11 million in XRP. When selling pressure rises even further, XRP may break below its $1.10 base support, causing a 31.7% retracement.
Still, it’s the daily candlesticks outside the $1.17 to $1.10 price pocket that determine where XRP goes from here