Total 1day Log chart looks 2 b finally triggering channel brkout
We can see here on the log chart that the brown descending channel on the 1 day timeframe finally appears to be getting a confirmation impulse. The target for this breakout is around 1.324 trillion. Keep in mind we also have the dotted blue measure move line to reach eventually much much higher up. *not financial advice*
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The blue measured move lines target is a whopping 17.55trillion in total market cap eventually. The recent clarity on XRP could be where a large amount of that capital flows in from institutional investors now feeling like they have the clarity to properly implement it. Just speculation on my part. The blue dotted line is stemming from a massive falling wedge/bull pennant log chart pattern that price original broke upward from back in March. The 17.55 trillion target is when you include the flag pole. The Wedge target on its own is closer to around 2.6-3 trillion. It will likely hit that target first instead of going tot he full pennant target and then have a healthy correction and big consolidation period before continuing up to reach the full pennant target. Even just reaching the wedge target itself could take several more months. *not financial advice*
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Currently back down and retesting the top trendline of the channel
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Still holding support on top trendline.
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Target hit and exceeded.