On the XRP chart, a triple bottom formation has appeared. At the moment, the price is attempting to rise but has already reacted from a key moving average and remains below the weekly pivot point at 2.85.
I expect a reversal from the 2.78–2.81 area, but a break of 2.76 without a quick recovery would worsen the overall picture for XRP. A move below 2.69 could send the price toward the first target at 2.55, followed by a reaction from 2.47.
A breakout above 2.92 would invalidate the large descending triangle scenario, with the next upside target at 3.03.
I expect a reversal from the 2.78–2.81 area, but a break of 2.76 without a quick recovery would worsen the overall picture for XRP. A move below 2.69 could send the price toward the first target at 2.55, followed by a reaction from 2.47.
A breakout above 2.92 would invalidate the large descending triangle scenario, with the next upside target at 3.03.
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