Satoshi

Prime

Resistance

Maximus

<p><a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP</a>, the native cryptocurrency of the Ripple network, has been experiencing a mix of bullish and bearish signals in recent days. While some analysts remain optimistic about the token’s future prospects, others are cautioning that XRP may not be entirely out of the woods just yet.</p>
<h2 class="wp-block-heading" id="rejection-at-symmetrical-trendline">Rejection at Symmetrical Trendline</h2>
<p>Analyst Maximus Prime has noted that XRP recently faced rejection at the symmetrical trendline, a key level of resistance. For the bulls to regain control, <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> needs to fight its way back into the trendline and establish support above it. The 2-week chart presents a bearish outlook, while the daily chart clearly shows the rejection off the trendline.</p>
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   <p lang="en" dir="ltr">I wouldn't say <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$XRP</a> <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#XRP</a> is absolutely out of the clear yet. <br><br>Today we saw it get rejected at the Symmetrical trendline. It has to fight its way back into it and hold above/setup. <br><br>The 2 week looks very bearish and the daily shows the rejection off the TL.<br><br>That being said <br>1/2 <a href="https://t.co/v5Es47Qsd4" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/v5Es47Qsd4</a></p>— Maximus Prime (@RalstonMax) <a href="https://twitter.com/RalstonMax/status/1793111549214961835?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 22, 2024</a>
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<p>However, Maximus Prime also points out that the 10 SMA (Simple Moving Average) and 8 EMA (Exponential Moving Average) are crossing above the 20 SMA on the daily chart, indicating that the bulls are making an effort.</p>
<p>A green daily close could be the catalyst needed for XRP to push higher. The analyst suspects that some choppy price action or a pullback may occur before the token can continue its upward trajectory.</p>
<h2 class="wp-block-heading" id="bullish-trajectory-and-pivotal-targets">Bullish Trajectory and Pivotal Targets</h2>
<p>EGRAG Crypto, another analyst, has <a href="https://x.com/egragcrypto/status/1792815012450320465" target="_blank" rel="noopener noreferrer nofollow">highlighted</a> the inclining steps to the upside on the XRP chart, even for those who may not be well-versed in technical analysis.</p>
<p>This bullish pattern suggests a solid trajectory for the token, with the next pivotal target set at $0.75. EGRAG Crypto encourages the XRP Army to remain steady, emphasizing that their time will come. The analyst also expresses a desire for other bag holdings to pump before XRP, allowing for a full rotation into XRP for the grand finale.</p>
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<h2 class="wp-block-heading" id="potential-for-a-bullish-breakout">Potential for a Bullish Breakout</h2>
<p>Analyst JAVON MARKS has <a href="https://x.com/JavonTM1/status/1792653689750016430" target="_blank" rel="noopener noreferrer nofollow">identified</a> XRP as nearing a major converging point, with the RSI (Relative Strength Index) pattern indicating underlying momentum in prices. This setup suggests that a bullish breakout is likely.</p>
<p>JAVON MARKS presents a conservative target of $15-$20 for a breakout and logarithmic follow-through, which could result in a 20x to 36x return from current levels, equivalent to a more than 2,000% run.</p>
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<p>The signs for bullishness are present, and the analyst believes that only time may be standing in the way of XRP showcasing its potential.</p>
<p>While the rejection at the symmetrical trendline has raised concerns, the bulls’ efforts to regain control and the potential for a bullish breakout keep the XRP community optimistic.</p>
<p><strong><em>Read more: <a href="https://captainaltcoin.com/top-analyst-says-dot-price-target-is-likely-18-amid-polkadot-2-0-release-and-these-catalysts/" target="_blank" rel="noopener noreferrer nofollow">Top Analyst Says DOT Price Target is ‘Likely’ $18 Amid Polkadot 2.0 Release and These Catalysts&nbsp;</a></em></strong></p>
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<p>The post <a href="https://captainaltcoin.com/ripple-faces-resistance-at-symmetrical-trendline-but-analyst-forecasts-2000-run-for-xrp-heres-why/" rel="noopener noreferrer nofollow">Ripple Faces Resistance at Symmetrical Trendline, but Analyst Forecasts 2,000% Run for XRP: Here’s Why</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ripple Faces Resistance at Symmetrical Trendline, but Analyst Forecasts 2,000% Run for XRP: Here’s Why

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