XRP 6-Year Symetrical pattern BREAKOUT
XRP: A 6-Year Symmetrical Pattern Breakout?
On March 13th, I shared this XRP (Ripple) chart highlighting a massive Symmetrical Triangle pattern stretching back to its 2013 top. Now, XRP is breaking out, but let’s dissect the history for key insights. 📊
Historical Patterns:
1️⃣ 2013-2017: The first triangle spanned 4 years, leading to a breakout and a top in 2018. 2️⃣ 2018-2024: A second triangle formed, lasting 6 years, and we’re now witnessing the breakout!
Possible Catalyst?
Could bullish sentiment surrounding Trump’s presidential bid and the ousting of the last SEC Chair have fueled the move? Perhaps. But the charts have been hinting at this for months, with sentiment acting as the final push.
Key Levels to Watch:
Confirmation Needed: A retest of the breakout zone or the 21 EMA on the 2-week chart will validate this move just as it did in 2017.
Earlier Signs? Keep an eye on the weekly timeframe for earlier signals of strength or potential reversals.
Watch the Stochastic RSI - nearing the 80 level. The Relative strength Index at 74. Has only been above the 70 level four other data points.
The Takeaway:
The facts are in the charts. A breakout like this has historically set the stage for major moves in XRP. Stay sharp—confirmation is key before declaring the next rally is here. 🚀
What are your thoughts on XRP’s next move? Let’s discuss! 🔍
On March 13th, I shared this XRP (Ripple) chart highlighting a massive Symmetrical Triangle pattern stretching back to its 2013 top. Now, XRP is breaking out, but let’s dissect the history for key insights. 📊
Historical Patterns:
1️⃣ 2013-2017: The first triangle spanned 4 years, leading to a breakout and a top in 2018. 2️⃣ 2018-2024: A second triangle formed, lasting 6 years, and we’re now witnessing the breakout!
Possible Catalyst?
Could bullish sentiment surrounding Trump’s presidential bid and the ousting of the last SEC Chair have fueled the move? Perhaps. But the charts have been hinting at this for months, with sentiment acting as the final push.
Key Levels to Watch:
Confirmation Needed: A retest of the breakout zone or the 21 EMA on the 2-week chart will validate this move just as it did in 2017.
Earlier Signs? Keep an eye on the weekly timeframe for earlier signals of strength or potential reversals.
Watch the Stochastic RSI - nearing the 80 level. The Relative strength Index at 74. Has only been above the 70 level four other data points.
The Takeaway:
The facts are in the charts. A breakout like this has historically set the stage for major moves in XRP. Stay sharp—confirmation is key before declaring the next rally is here. 🚀
What are your thoughts on XRP’s next move? Let’s discuss! 🔍
Disclaimer
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