Ripple’s crypto money XRP continues to signal signals in technical analysis, while the graphic structure, which is similar to the bull run in 2017, attracts the attention of investors. The leading market analysts, such as Ekrag Crypto and Ali Martinez, give strong signals that XRP can experience serious leaps in the short term.
Technical analysis points to the possibility of rise
According to Eksrag Crypto, the XRP is a loop similar to the price structure in 2017. Analyst says that the XRP is currently approaching the end of the third wave, according to Elliott wave theory, and expects the fourth wave to be shaped in the next few years. In line with this estimation, it is stated that the XRP can reach $ 27 in the short term.
“The wave structure repeats the wave structure. These statements have aroused excitement among investors who traded through technical analysis.
In the current price structure of XRP, the support levels determined by the analyst are critical. It is emphasized that the closing of the 21 -day exponential moving average (EMA) can interrupt the rise scenario. The price should maintain $ 2.10 and $ 1.95.
Graphic Formation and Market Expectations
Crypto analyst Ali Martinez draws attention to an inverse head-uz formation in XRP graphics. He says that if this formation is completed, it can directly climb to $ 2.70 by breaking the $ 2.40 resistance of the XRP. This technical formation is considered an important signal of the next movement of the market.
According to TradingView data, the XRP is currently testing $ 2 and faces a strong resistance around $ 2.7265. Technical indicators reveal that the volume increase should be accompanied by the upward movement.
On the other hand, not only technical data, but also investor interest supports the powerful appearance of XRP. Since the beginning of the year, an input of $ 214 million has been recorded for investment products associated with XRP. In the last week, this figure has reached $ 37.7 million.
For XRP, whose name is frequently mentioned by legal processes, the legal adviser John Deaton made a remarkable comment. According to Deaton, XRP has the potential to shake Ethereum’s market leadership. This claim shows that interest in XRP is not only technical based, but also as a strategic investment tool.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
