Flow

bullish

Momentum

<ul class="wp-block-list"> 
 <li>XRP price consolidates in symmetrical triangle pattern for 1.5 months.</li> 
 <li>Positive funding rates and rising Chaikin Money Flow indicate bullish sentiment.</li> 
 <li>Potential 29% rally to $0.76 if breakout occurs, or drop to $0.56 if failed.</li> 
</ul> 
<a href="https://thenewscrypto.com/?s=XRP" target="_blank" rel="noreferrer noopener">XRP </a>finds itself at a critical juncture as it approaches the culmination of a month-and-a-half-long symmetrical triangle pattern. 
Despite repeated failures to breach a key resistance barrier, the token now shows signs of potentially breaking out of this consolidation phase. This development has ignited optimism among traders, who are increasingly anticipating a significant rally that could propel XRP to new heights. 
The growing bullish sentiment surrounding <a href="https://thenewscrypto.com/?s=Ripple" target="_blank" rel="noreferrer noopener">Ripple </a>is evident in the positive funding rate, which has maintained its longest streak in over seven weeks. This metric, typically indicative of long contract dominance over short positions, reflects a strong market belief in XRP’s upward potential. 
The persistence of this positive funding rate suggests that traders are placing their bets on XRP’s ascent, potentially fueling a self-reinforcing cycle of bullish momentum. 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="241" src="https://thenewscrypto.com/wp-content/uploads/2024/09/image-67-1024x241.png" alt="" class="wp-image-108793" srcset="https://thenewscrypto.com/wp-content/uploads/2024/09/image-67-1024x241.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/09/image-67-300x71.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/09/image-67-768x181.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/09/image-67.png 1536w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Source:&nbsp;<a href="https://www.coinglass.com/" target="_blank" rel="noreferrer noopener">Coinglass</a>
 </figcaption>
</figure> 
<h2 class="wp-block-heading" id="h-momentum-indicators-show-positive-xrp-picture">Momentum indicators show positive XRP picture</h2> 
Beyond short-term trading dynamics, broader momentum indicators paint an encouraging picture for XRP. The Chaikin Money Flow (CMF) indicator has registered a sharp uptick, signaling a substantial influx of capital into the asset. 
This surge in investor confidence could serve as a catalyst for sustained price appreciation, providing the necessary buying pressure to support a breakout from the symmetrical triangle pattern. 
As XRP tests the upper trendline of the symmetrical triangle as support, the stage appears set for a potential breakout. Should this scenario materialize, technical analysis suggests the possibility of a 29% price surge, potentially driving XRP towards the $0.76 mark. 
However, the bullish thesis hinges on the coin’s ability to decisively flip the $0.64 resistance level into a support floor, a move that would confirm the upward trajectory and lay the groundwork for further gains.

Ripple Price Consolidates in Symmetrical Triangle for 1.5 Months: What’s Next For XRP?

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TheNewsCrypto

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