XRP: Bull Market Vibes
XRP, like many other cryptocurrencies, has experienced significant fluctuations over the past few years. In this article, we will analyze XRP's behavior from 2018 to the present, focusing on the bull market that started in December 2020.
Descending Channel (2018-2020)
From the summer of 2018 to December 2020, XRP was in a descending channel. This period was characterized by low volatility and a gradual decrease in price.
Sharp Pump and Bull Market (December 2020 - May 2022)
In December 2020, XRP surged sharply, breaking out of the descending channel. This pamp marked the beginning of a bull market that lasted until May 2022.
Ascending Channel (May 2022 - Present)
Since May 2022, XRP has been trading in an ascending channel. This channel is characterized by clear support and resistance lines, as well as XRP constantly testing the upper channel boundary.
Pump Expectation
On the daily timeframe, XRP shows a decrease in volatility. This pattern often precedes a sharp rise in price, so it can be expected that XRP is about to make a new pamp.
Bullish Sentiment Confirmation:
XRP has been holding in an ascending channel for 7 months, without breaking the support line.
The price is constantly testing the upper boundary of the channel, which indicates the bulls' pressure.
Decreased volatility on the daily timeframe is a typical pattern before a pamp.
Important Caveats:
It is important to conduct your own research and assess the risks before investing
Descending Channel (2018-2020)
From the summer of 2018 to December 2020, XRP was in a descending channel. This period was characterized by low volatility and a gradual decrease in price.
Sharp Pump and Bull Market (December 2020 - May 2022)
In December 2020, XRP surged sharply, breaking out of the descending channel. This pamp marked the beginning of a bull market that lasted until May 2022.
Ascending Channel (May 2022 - Present)
Since May 2022, XRP has been trading in an ascending channel. This channel is characterized by clear support and resistance lines, as well as XRP constantly testing the upper channel boundary.
Pump Expectation
On the daily timeframe, XRP shows a decrease in volatility. This pattern often precedes a sharp rise in price, so it can be expected that XRP is about to make a new pamp.
XRP has been holding in an ascending channel for 7 months, without breaking the support line.
The price is constantly testing the upper boundary of the channel, which indicates the bulls' pressure.
Decreased volatility on the daily timeframe is a typical pattern before a pamp.
Important Caveats:
It is important to conduct your own research and assess the risks before investing
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