|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
This XRP Chart Looks Like a ‘Time Bomb’ – Will Ripple’s Token Repeat 2017?
Sep 19, 2024 at 06:30 am
Ripple’s (XRP) market performance has been bad over the last day. This token’s price saw a 2.25% dip while its trading volume has increased by 9.89%.
Crypto analyst Mikybull shared a XRP chart with his followers on Monday, and he stated that analysts are referring to his chart as a technical time bomb waiting for an explosion. He added that it’s looking like the 2017 kind of price action (PA) formation. The chart shows XRP forming a symmetrical triangle on the monthly timeframe. This pattern indicates consolidation, with the price narrowing into tighter ranges over time. Historically, symmetrical triangles are known to come before sharp price movements, either up or down. In XRP’s case, the pattern is reminiscent of its 2017 consolidation phase before its explosive rally to all-time highs. Moreover, the chart noted that the token is hovering near a key decision point. If XRP follows its historical behavior, this consolidation phase could soon give way to a bullish breakout, pushing prices toward key psychological levels. Image Source: X/MikybullCrypto The chart also revealed Bollinger Bands, indicating that volatility has decreased as XRP continues to trade sideways. The contraction of these bands often signals that a strong move may be on the horizon. The last time XRP saw such volatility contraction, it led to a significant price surge. Furthermore, as XRP approaches the edge of this pattern, traders are closely watching for any signs of a breakout, which could indicate the start of another rally. Doge2014 raises 450K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop! XRP’s Volume Decline Points to Price Build-Up Volume analysis also plays a key role in this setup. The chart shows a steady decline in trading volume, a typical precursor to large price movements. Moreover, lower volumes during consolidation often indicate that market participants are waiting for a clear signal before re-entering the market. This scenario adds to the idea of XRP being a “time bomb,” where a sharp increase in volume could fuel a substantial price move. Finally, as analysts draw comparisons to XRP’s 2017 price action, expectations are growing that the token could once again experience a strong rally. If XRP manages to break above key resistance levels, it could aim for price targets above $1 and beyond. Read Also: Bitcoin Price Pumps Following Big Economic News Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group. We recommend eToroDisclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- MANTRA Chain Mainnet Launch Will Bring Real-World Assets Onchain
- Sep 19, 2024 at 10:25 pm
- We’re thrilled to announce that the highly anticipated launch of the MANTRA Chain Mainnet will be coming in October 2024.
-
- GoodEgg (GEGG) Emerges as a Top Contender, Threatening Artificial Superintelligence Alliance's (FET) Market Dominance
- Sep 19, 2024 at 10:25 pm
- In the dynamic world of cryptocurrency, shifts in market sentiment are commonplace. One of the most recent and notable changes involves the rise of GoodEgg
-
- GoodEgg (GEGG) vs Artificial Superintelligence Alliance (FET): Can a Rebrand Save the Ailing Coin?
- Sep 19, 2024 at 10:25 pm
- In the dynamic world of cryptocurrency, Artificial Superintelligence Alliance (FET) has long been a popular choice for AI and blockchain investors. However, the tide is beginning to turn, as GoodEgg (GEGG) is rapidly gaining traction, capturing the attention of seasoned FET investors.
-
- Zodia Custody and Solidus Labs Partner to Enhance Digital Asset Financial Crime Risk Identification and Mitigation Capabilities
- Sep 19, 2024 at 10:25 pm
- This collaboration will bolster Zodia Custody’s transaction monitoring capabilities, ensuring comprehensive coverage of both onchain and offchain transactions
-
- The Evolution of DeFi Lending: From Over-Collateralization to Real-World Asset Integration
- Sep 19, 2024 at 10:25 pm
- Decentralized finance (DeFi) has revolutionized the financial landscape, offering trustless, permissionless, and transparent financial services powered by blockchain technology. One of the most significant innovations within DeFi is lending, which allows users to borrow and lend crypto assets without intermediaries like banks. DeFi lending protocols such as Aave, Compound, and MakerDAO have democratized access to loans, enabling users to earn yield on idle assets or borrow funds instantly.
-
- Crypto Staking and Savings Accounts: A Secure Investment Strategy
- Sep 19, 2024 at 10:25 pm
- The cryptocurrency market is often portrayed as a fast track to enormous wealth. Stories of quick riches and astronomical returns captivate the imaginations of many new investors. However, beneath this glossy veneer lies a complex and perilous reality. The cryptocurrency space is rife with projects that, despite their initial allure, turn out to be scams or fail spectacularly soon after their launch. Such scenarios can lead to devastating losses for unsuspecting investors.
-
- Crypto Content Creator Campus (CCCC) Launches as the Premier Annual Gathering for Crypto Influencers
- Sep 19, 2024 at 10:25 pm
- Taking place from November 8th to 10th, CCCC will serve as the premier annual gathering for the crypto community.
-
- Solana Introduces 'Seeker,' a New Smartphone Geared Towards Crypto Enthusiasts
- Sep 19, 2024 at 10:25 pm
- Solana has just introduced its latest smartphone, "Seeker," a successor to the Saga phone launched last year. Seeker comes with a more affordable price tag—half the cost of its predecessor—and promises to offer a robust web3 experience without relying solely on memecoins.
-
- Maximizing Bitcoin per Share: A New Corporate Strategy
- Sep 19, 2024 at 10:25 pm
- MicroStrategy, Cathedra Bitcoin and Metaplanet are leading the charge in maximizing bitcoin holdings.