Summary
- An analysis said XRP’s technical indicators are showing bullish signals, with a potential rise to $2.8 by the end of this month.
- It noted that the XRP/USD daily chart broke upward from a falling wedge pattern; if the $2 support holds, there may be additional upside to $2.4 and $2.7.
- With a bull flag pattern forming on the 8-hour chart, a break above the $2.15 resistance could put the near-term target at $2.8, though a short-term pullback remains possible depending on key resistance levels and market volatility.
Forecast Trend Report by Period
An analysis suggests that XRP’s technical indicators are flashing bullish signals, potentially allowing it to climb to $2.8 by the end of this month.
According to crypto-focused media outlet Cointelegraph on the 15th (local time), the XRP/USD daily chart broke upward out of a falling wedge pattern on the 1st. The move is viewed as a signal pointing to a possible medium-term trend reversal; if the $2 support level holds, the analysis said there is room for further gains to $2.4 and even $2.7.
In addition, the 8-hour chart appears to be forming a bull flag pattern. The outlet said that if XRP breaks above the $2.15 resistance level, upside momentum could strengthen, with a near-term target around $2.8.
The outlet added, however, that investors should also factor in the possibility of a short-term pullback depending on whether key resistance zones are cleared and on broader market volatility.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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