XRP price bull flag hints at 20% rally by New Year’s
XRP (XRP) cost may rally over 20% in the coming weeks thanks to a classic bullish continuation setup.XRP rate enters bull flag breakout stageThe so-called bull flag pattern develops when the cost combines inside a parallel channel after a strong uptrend. It fixes after the rate breaks above the upper trendline with convincing volumes and increases by as much as the previous uptrends height.As of Nov. 26, XRP was trading above its bull flags upper trendline, albeit accompanying weaker volumes. XRP may then climb towards $0.75 in December, up over 20% from present price levels, if the bull flag situation holds, and is characterized by a high-volume rebound from the upper trendline.
XRP (XRP) price may rally over 20% in the coming weeks thanks to a classic bullish continuation setup.XRP rate gets in bull flag breakout stageThe so-called bull flag pattern develops when the rate combines inside a parallel channel after a strong uptrend. It solves after the cost breaks above the upper trendline with convincing volumes and increases by as much as the previous uptrends height.As of Nov. 26, XRP was trading above its bull flags upper trendline, albeit accompanying weaker volumes. In other words, these whales are buying XRP at the most likely local lows, showing their conviction about a cost rise in December, which corresponds with the bull flag setup provided above.SEC vs. Ripple decision loomsXRPs price has actually skyrocketed nearly 85% so far in 2023, with Ripples partial win against the U.S. Securities and Exchange Commission (SEC) serving as the main bullish driver.
In other words, these whales are purchasing XRP at the most likely regional lows, showing their conviction about a price increase in December, which corresponds with the bull flag setup presented above.SEC vs. Ripple decision loomsXRPs price has soared nearly 85% so far in 2023, with Ripples partial win versus the U.S. Securities and Exchange Commission (SEC) serving as the primary bullish catalyst. Every investment and trading move involves risk, and readers should perform their own research when making a choice.