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The Price Of XRP May Rise By More Than 60% Based On Technical Signals Analyst

The Price Of XRP May Rise By More Than 60% Based On Technical Signals Analyst

The Price Of XRP May Rise By More Than 60% Based On Technical Signals Analyst

By CNN Markets: On June 6, author and cartographer PeterLbrandt visited Twitter to share his bullish view of Ripple price action. In his tweet, he referred to two coded currencies that flickered bullish signals against the US Tether (USDT): Litecoin and Ripple. While not specifying the goals of the Litecoin, he confirmed two target prices for the Ripple, namely 0.5688 and 0.6260.
Peter Brandt is one of the most respected members of the Twitter encryption community. While running a paid group on his website, he shares some of his followers with his followers. His account has been active since February 2011 and has collected more than 281000 followers.
Ripple Ultra mounting scenario
In trade and investment, there is an old saying: "The longer the rule, the greater the space." This means that the more time the asset spends accumulating or building the foundation, the higher the target price will rise. This happens because the smart funds that built the base below will need to pump prices heavily to ensure maximum profits increase when they begin to distribute or unload centers.
In the case of Ripple, the accumulation within the big descending triangle continued 237 days. This is nearly eight months of trading within this pattern.
That's why when the market came out of the pattern on May 14, Ripple rose from the opening 0.32385 to 0.409. The eruption has caused tremendous volume. Looking at the XRP / USDT chart, the May 14 record is the second largest pair on the Binance. With buyers returning in large numbers, Ripple continued to rise until May 16 when the coded currency rose to 0.479.

XRP flashed multiple bullish signals after the breach
In technical analysis, the triangle pattern is often associated with a bearish price movement. However, rules that work in other assets do not often apply to encryption. An example of this is the fall-down triangle. The value of Ripple may have stumbled because of this bearish pattern, but it did the exact opposite.
The goal of breaking a descending triangle is often the highest level of the pattern. In the case of RIBL, this is 0.626 - as Peter Brandt predicted.
This assessment may be valid for several reasons.
First, we can see the Ripple prints a large banner on the daily chart. This pattern indicates that the market may resume its rally after consolidation. Furthermore, we have just seen a golden cross between the 100 day MA and the 200-day moving average.
Finally, the bullish cross puts all three MAs in perfect alignment. The 50-day moving average is at the top of the 100-day moving average and the 100-day SMA is above the 200-day moving average. This setting tells us that the Ripple is bullish in the short, medium and long term.'

REFERENCES
Shin, Laura (24 May 2016). " The Price Of XRP May Rise By More Than 60% Based On Technical Signals Analyst. Archived from the original on 24 May 2016. Retrieved 13 July 2016.
 Ritchie S. King; Sam Williams; David Yanofsky (17 December 2013). " The Price Of XRP May Rise By More Than 60% Based On Technical Signals Analyst. Archived from the original on 17 December 2013. Retrieved 17 December 2013.
Scherschel, Fabian (8 January 2019). " The Price Of XRP May Rise By More Than 60% Based On Technical Signals Analyst. Heinz Heise. Retrieved 14 May 2019.