Parallel

Coin

<ul class="news-points"> 
 <li><strong>XRP appears to be breaking out of a descending parallel channel.</strong></li> 
 <li><strong>Ali thinks the breakout could lead to an upswing to push the XRP to between $0.65 and $0.66.</strong></li> 
 <li><strong>XRP bounced off support at $0.5720 to initiate the current rally.</strong></li> 
</ul> 
<p>According to Ali, a renowned cryptocurrency technical analyst on X, XRP appears to be breaking out of a descending parallel channel. He noted that the breakout could lead to an upswing that would push the XRP price to between $0.65 and $0.66.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Ripple</a> | <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$XRP</a> appears to be breaking out from a descending parallel channel, which may result in an upswing to $0.65 – $0.66 for <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#XRP</a>. <a href="https://t.co/gvfeEMKIDX" target="_blank" rel="nofollow">pic.twitter.com/gvfeEMKIDX</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1727627940207206797?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">November 23, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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</figure> 
<p>In his analysis, Ali presented a screenshot of the XRP/Tether US Perpetual Contract 4-hour chart published on TradingView. The chart showed that XRP bounced off support at $0.5720 before pushing upward to break above the descending parallel channel.</p> 
<p>Apart from breaking out of the descending parallel channel, <a href="https://coinedition.com/ripple-xrp-price-prediction/">XRP’s price</a> reflected significant upside momentum by overcoming other resistance regions that include multiple Fibonacci levels. After struggling for a while, XRP broke above the 0.236 Fibon…</p>
<p>The post <a href="https://coinedition.com/xrp-is-breaking-out-of-a-descending-parallel-channel-analyst/">XRP Is Breaking Out of a Descending Parallel Channel: Analyst</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

XRP Is Breaking Out of a Descending Parallel Channel: Analyst

Coin Edition

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