XRP Price Breakout go $4.5 after Symmetrical Triangle
Technical analyst Steph Is Crypto don spot say XRP price fit break out as XRP dey compress inside symmetical triangle for daily chart, after e follow five-wave Elliott Wave pattern. Di pattern wey start after July peak dey show say highs dey lower and lows dey higher, e dey tighten inside wave E near di apex. If e close daily pass di upper boundary of di triangle, e go confirm say market go continue rise, target dey around $4.50 plus new all-time high. But if e break below support, price fit continue to sidon or fall. Right now, XRP dey trade for $2.83 as market dey weak, e fit start dey move up again if e get correct breakout. Traders suppose dey watch daily close around di triangle edge to confirm.
Bullish
Di analyzis show say mature symmetrical triangle pattern don form after strong advance, and dis kain setup historically dey signal say di trend go continue. Di five-wave Elliott Wave structure wey dey near wave E dey suggest say volatility go expand plus im get chance say bullish breakout go happen reach $4.50. Assets like Bitcoin get similar pattern and dem don experience sharp rallies once key resistance don break. For short term, traders fit expect high volatility and momentum trades if XRP fit close daily pass di upper boundary. For long term, if breakout confirm, e fit attract new buying pressure plus e fit set di stage for record highs. But if e no fit break resistance, e fit make consolidation long or e fit trigger pullback, but as long as support hold, di dominant setup still dey bullish.