bullish

2024

Parabolic

Daily

<ul>
 <li>XRP broke a triangle pattern on the daily chart, indicating a potential bullish trend.</li>
 <li>CME announced XRP futures contracts, increasing institutional interest and liquidity.</li>
 <li>The breakout and CME listing signal potential further gains for XRP.</li>
</ul>
<p>XRP has made headlines after <a href="https://cryptonewsland.com/xrp-and-icp-now-live-on-cme/" target="_blank" rel="noopener noreferrer nofollow">breaking a triangle pattern</a> on the daily chart. This technical move came soon after the announcement of XRP’s listing on the Chicago Mercantile Exchange (CME), one of the world’s leading derivatives marketplaces.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> broke the triangle on the daily chart! <br><br>Hit that like button if you are bullish! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f44a.png" alt="👊" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f60e.png" alt="😎" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/GdIfIIMTwx" rel="noopener noreferrer nofollow">pic.twitter.com/GdIfIIMTwx</a></p>— JackTheRippler © (@RippleXrpie) <a href="https://twitter.com/RippleXrpie/status/1818229809253687367?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 30, 2024</a>
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<h2 class="wp-block-heading" id="h-understanding-the-triangle-chart-pattern">Understanding the Triangle Chart Pattern</h2>
<p>The triangle pattern, often seen in technical analysis, signals a period of consolidation before a breakout. For XRP, this pattern formed over several weeks, with prices moving between converging trendlines.&nbsp;</p>
<p>On July 27, CME announced it would list XRP futures contracts. This listing allows institutional investors to trade XRP on a regulated platform, potentially increasing liquidity and interest in the cryptocurrency.&nbsp;</p>
<p>The news positively impacted <a href="https://cryptonewsland.com/xrps-bollinger-bands-signal-possible-rally/" target="_blank" rel="noopener noreferrer nofollow">XRP’s price</a>, pushing it above the upper trendline of the triangle pattern. Following the announcement, XRP saw a surge in trading volume.&nbsp;</p>
<p>Increased volume often accompanies breakouts, confirming the strength of the move. Analysts noted that this breakout could lead to further gains if buying pressure continues.</p>
<h2 class="wp-block-heading" id="h-xrp-s-price-pre-and-post-cme-listing-nbsp-nbsp">XRP’s Price: Pre and Post CME Listing&nbsp;&nbsp;</h2>
<p>Before the <a href="https://www.cmegroup.com/" target="_blank" rel="noopener noreferrer nofollow">Chicago Mercantile Exchange</a> listing, XRP’s price had been relatively stable. The consolidation phase created a strong support base, making the breakout more significant.&nbsp;</p>
<p>Technical analysts often look for such patterns to predict future price movements. In XRP’s case, the breakout suggests a bullish trend may be forming.</p>
<p>CME’s decision to list XRP comes amid growing institutio...</p>
<p>The post <a href="https://cryptonewsland.com/xrp-breaks-triangle-cme-listing-boosts-price/" rel="noopener noreferrer nofollow">XRP Broke Triangle Pattern on Daily Chart After CME Listing, Parabolic Price Pump Ahead?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

XRP Broke Triangle Pattern on Daily Chart After CME Listing, Parabolic Price Pump Ahead?

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