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DrDovetail
Jan 31, 2024 6:26 AM

Monthly chart triangle XRP is reaching apex  

XRP / U.S. dollarBitstamp

Description

We can see this monthly triangle that xrp has been forming since 2020 is nearing an apex. We can also see that, barring some sort of black swan, XRP is fairly unlikely to stay above 40 cents based on the extremely solid support of the triangles bottom trendline and the fact that the monthly 100 ma is now overlapping that trendline for double reinforced support. The top trendline has the 3 touches needed to be a valid line so it is suggesting a measured move of over $2. Of course being a monthly chart pattern it would likely take may months to reach the full target. *not financial advice*
Comments
Winks01
going higher than 2
DrDovetail
@Winks01, sure eventually..this is just the target for this specific pattern not factoring in larger patterns n higher time frames
MyCryptoParadise
However, being a monthly chart pattern, achieving the full target could take many months.
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