XRPUSDT XRPUSD has been in a corrective phase after reaching its recent highs, forming what appears to be a bullish flag pattern. This structure suggests that the asset is consolidating before its next potential leg upward. The price has been repeatedly rejecting the support zone between $1.70 and $2.00, strengthening the case for this area acting as a key accumulation zone.An optimal entry could be around the $1.70 level, as it aligns with the lower boundary of the support range and the pattern’s validation zone. If XRP manages to break out of the flag structure, the projected move based on the flagpole extension suggests a target of $4.00, offering a compelling risk-to-reward setup.
To confirm the trade before entering, traders could look for a structural shift in lower timeframes, such as a break in the current downtrend or strong bullish volume. If the pattern plays out as expected, this could set the stage for the next explosive move in XRP.
👨🏻💻💭 Will this bullish flag deliver? Time will tell, but the setup looks promising!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.