Analyst explains the Bull Cup! Is XRP worth $31 or $50?
XRP, which has lost weekly gains and experienced a significant price increase in the past 24 years, has been seen in resistance movement in the last few movements. The asset decreased by 0.62 percent from the level of $ 0.74, and the distribution of the cryptocurrency market decreased. This decline attracted the attention of analysts despite the bullish trend on the XRP chart. Cryptocurrency analyst, known as Cryptobilbuwoo0 on the X platform, shared his positive predictions about the future price of the altcoin.
Based on the technical fundamentals formed in the price of the altcoin, the analyst showed that the short-term pullback does not affect its future potential. Identifying the future uptrend is selected in two different formats on the weekly chart. Especially in analyst determinations cup and handle models True, you can have a graphic model in the fashionable version of the old version in Kabul.
Cup and handle formation
The cup and handle formation, which resembles a wide and narrow letter U in cryptocurrency charts, is often interpreted as a sign of autumn. A consolidation period occurs after the price increase above the bottom values, expressed by the analyst as Cups. The graphic is obtained with this consolidation handle. Cryptocurrency analysts interpret this formation as a price increase and mean a breakout in price.
XRP cup handle model Source: X
Crypto analyst Cryptobilbuwoo0 did not state any history regarding the cup and handle formation. A similar format by the analyst saw a recovery in price from March 2020 to April 2021. You will be able to see the results of the consolidation process in 2021. The analyst thinks that if the cup and handle formation is correct, the price of the altcoin will move towards 31.
What do long-term Fibonacci levels indicate?
Crypto, Long-term highlights for analyst Cryptobilbuwoo0 1,618 pages of charts and pages 26 dollars 33 dollars Indicates a potential target among. Additionally, according to the analyst, a zone formed in this range is aligned in a price range with 50 expansion potential. Additionally, analyst Cryptobilbuwoo0 is the founder of Elliott, which achieved this success. Elliott Wave Theory, which shows bullish momentum, appears to be in line with analyst opinion.
According to Fibanacci, the XRP price moves in five different Waves in its process. In the current price outlook of the XRP price, it is at retracement levels and is moving within the 3rd wave. According to this theory, many analysts are expected to move at the same price increase as $ 21.54 and 4.236 in the 3rd wave movement.
How will the upcoming Bitcoin Halving event affect the XRP price?
The Bitcoin halving, which is eagerly awaited and will start a possible rally in cryptocurrency production, may also see an important personal purpose for the XRP price, as it is for altcoins. You can also use the Bitcoin Minetrix token in the first place to buy XRP coin. Newly released coins Located in between, the BTCMTX token is cool as an alternative method to traditional mining. The token project allows ordinary people to earn income from mining from an advanced perspective by offering safe and transparent usage.
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XRP price analysis
The XRP price, which has been on a significant upward trend in the last 4 days, decreased from $ 0.67 to 0.62 on Thursday, March 14. The altcoin rose to a high of 0.7442 on March 11, with an 18 percent gain. You will have the opportunity to benefit from the XRP price, that is, you will have the opportunity to use it and use it. In 24 years, its asset loses 9.7% in value, but its price is $0.61. You can definitely take a look at the altcoin that you can use as an analyst, but you can also get the information you need by using the XRP currency.
XRP 1-day price chart
The price of the XRP system is $0.62, but its price is $0.69 and its price is $0.73.
timelineoid
The information in the article is for informational purposes only. It does not constitute any investment advice. Neither your author nor cryptoparahaber.com is responsible for any profit or loss you derive from your investments. Ultimately, investment is based on a strong foundation such as knowledge, experience, research and personal decisions.
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