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The XRP price shows once again, even after the Altcoin has been plagued by dips. This time, cryptocurrency forms a fairly interesting model that suggests a continuation of the Haussier rally that started in April. Although this model is still complete, total training would be Extremely optimistic for the price of Altcoin.
The XRP price comes out of the Yo-Yo movement
Until now, the The XRP price has bounced back to the support Just above $ 2, something that Crypto Metashackle analyst on the TradingView site compared to a “yo-yo” movement. Instead of this was an upward bullish motif, known as a reverse dragon motif.
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This reverse dragon model has formed on the daily graphic, and the story shows that it means the The XRP price has the potential to climb faster from here. Until now, the analyst explains that the dragon head has already been formed on the daily graphic. This is formed above the superior trend line indicated in the graph below.
The next phase of this, if it is over, would be a strong upward movement while the bulls regain control. In addition, Metashackle predicts “a liquidation candle in the general area of the low line of dojo / inverted cascade”. The upward movement should continue and that this trend takes place in the coming weeks, the The XRP price should exceed $ 3 This month.
The analyst shows where the price could then go
While Metashackle sees the XRP price increase with the formation of the reverse dragon model, another Crypto analyst has given possible scenarios It could be played from here apart from the bullish. This goes in the question of whether the Bulls win, the Bears take over or that the current rope shooting for control continues.
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The first scenario is if the The price breaks resistance at $ 2,3612. In this case, the Crypto analyst expects the price to continue to increase. This upward trend should see it broke several main levels before finally finding resistance at $ 2.9 again.
Another scenario is when the Bulls breaks below support at $ 2,03,445, which has not yet taken place. It could trigger Additional accidents for the XRP priceAnd the downward trend could push it to $ 1.6, where there is a support at $ 1,63339.
The last but not the least is if the bulls and the bears continue to compete for control without clear winning. In this case, the Crypto analyst believes that the movement laterally continues. “Right now, there is a hidden divergence appearing on Xrpusd as if it will strengthen the downward mood,” explains the analyst. “If the price drops the level of resistance, the hidden divergence will be canceled.”
Dall.e star image, tradingView.com graphic