Main takeout:
The XRP forms a rising wedge with the top of the double, signaling the short -term disadvantages to $ 1.94.
NUPL indicates that merchants are similar to past preliminary screening.
Long -term charts still refer to optimistic goals between $ 3.69 to $ 17.
XRP (XRP) rebounded more than 50% over a month after forming a regional lowest level for $ 1.80. Improved dangerous appetite and the prospect of “Altseason” rose.
Can XRP be more integrated at the current level? Let’s review.
The XRP “Double Top” pattern is a hint every city
The XRP formed a double tower near $ 2.65 to signal a trend reversal. The pattern includes two transparent peaks and a neckline of about $ 2.47. After the second peak, XRP fell below the neckline and confirmed the weak setting.
The confirmed failure of this level is the shortcomings near $ 2.30. The double tower suggests weakening exercise after a strong rally. If the buyer does not break over $ 2.65 or more, the pattern continues and maintains weak.
Wedge rise is a hint of 20% XRP price collision.
The XRP is also damaged from the rising wedge pattern, showing the transition from strong to weak momentum. In recent patterns, attempts to violate the upper trend line of the pattern are reflected in the same reflection.
Wedges are confirmed when the price falls below the low trend line as the XRP has attempted as of May 15. The cryptocurrency is further tested with the 50-4H index moving average (50-4H EMA; Red Wave).
If you break below the support area, the XRP will fall by 20%, increasing the likelihood of about $ 1.94. This level is to measure the height of the rising wedge pattern and remove it from the failure point.
According to Data Resource CoingLass, the range of $ 2.00 to $ 2.04 is important because it has a lot of leverage long positions of about $ 50 million.
If the XRP falls below this range, it can be forced to close the majority of these locations, which can lead to long pressure. This will add sales pressure and push the price closer to the $ 1.94 goal.
The XRP trader is “rejection” -threcrick
The innocent profit/loss (NUPL) of the XRP has been changed from the glass node chart below to a green belief -congestion area. When refusing, many people still expect the price to rise even if the momentum is gone.
This NUPL level has historically indicated the initial stage of major modifications. For example, XRP entered this stage before it declined sharply in 2018 and 2021.
If history is repeated, the XRP can face more disadvantages in the short term and open the way for the price goal emphasized by the double top and wedge technology settings.
XRP long -term charts maintain strength
According to the counter analysis, if the brake out from the multi -distant fall wedge pattern proceeds as intended, 45% of the 45% rally will be $ 3.69 by June.
However, if the XRP falls below the top trend line of the wedge and loses support from the 20 -day (purple) and 50 (red) index (EMA), optimistic settings can be invalidated and reduced to $ 1.75.
The target is $ 5.24 and $ 17 based on the symmetry triangle pattern and Fibonacci expansion of several long -term XRP prices.
relevant: Historical rhymes? The XRP price rose 400% in the last hour of whale flow.
The XRP’s long -term chart shows continuous optimistic prejudice despite the short -term fullback risk, which indicates that the rally will not end.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.