XRP Price Eyes 77 % rises to the following $ 5: This is the reason star-news.press/wp

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Print the price of XRP (XRP) the bull mark style on the daily graph, which is a technical pattern associated with strong bullish momentum after upward outbreak. Is this the beginning of the XRP Rally to $ 5?

XRP Price Bull Flag targets $ 5

The daily chart shows XRP trading inside the bull mark, where the resistance price is facing the upper trend line of the model at $ 3.

The bull science is a continuation of a budget in technical analysis, and it is a small rectangle falling after a rise in sharp prices, indicating monotheism. It is usually resolved with upward outbreak, and continuing the initial upward trend.

Related to: Will XRP be disrupted in September?

The closure of the daily candlestick, which exceeds 3 dollars, will confirm an upward outbreak of XRP, which leads to a cleansing of the path to rise towards the style goal at 5 dollars. Such a move represents a 77 % increase from the current price.

However, before reaching this goal, the bulls will have to overcome the resistance from the simple moving average for 50 days (SMA) at $ 3.08, which has suppressed the price since August 24. Other obstacles are located at $ 3.40 and the 3.66 dollars reached on July 18.

On the negative side, the area to be monitored ranges between SMA of $ 100 at $ 2.68 and SMA for 200 days at $ 2.48, which are still main support areas for the XRP price. The bulls should keep the price higher than this level to avoid nullifying the bull mark setting.

“XRP can prepare for the next large penetration of about $ 5,” He said The pulse of the analyst’s encryption after discovering the pattern last week.

According to the analyst, the price was required to keep less than 2.75 August from 2.75 dollars to maintain the bullish structure.

“He lost $ 2.75 and watched a re -test from 2.5 to $ 2.6 to a meeting area of ​​$ 2.6 before paying another,” said Crypto Pulse.

“In general, XRP still looks optimistic; confirmation of penetration is what I see after that.”

As CointeleGRAph mentioned, buyers must defend decisive support about $ 2.73 to avoid a deeper correction of about $ 2.

Spot XRP ETF Approval equalizer

The US Securities and Exchange Committee is scheduled to decide the XRP exchange applications (ETF) within two months, with major final dates for most requests between October 18 and October 25.

Nearly 11 proposals under review, after the 2024 legal victory from Ripple shows the XRP case.

Market participants are optimistic, with betting XRP ETF approval possibilities By December 31, he now stands 87 % on polymers. Last month, the probability of approval increased by 23 % in favor of about 64 % on August 6.

Nate Geraci, head of ETF store, emphasizes that the possibilities of approval are almost confirmed as the final dates are approaching.

“Personally, I think the possibilities are closer to 100 %,” it is He said In Tuesday’s publication in response to the increasing possibilities.

Bloomberg, senior ETF Eric Balchunas Estimates The possibility of approval by 95 %, noting the organizational clarity and the change in leadership in the Supreme Education Council.

Approval may cancel the institutional capital lock, which inflates the demand for XRP symbols, which is likely to lead the prices about 10 dollars to 20 dollars, as some analysts expect 50 dollars if they join major players such as Blackrock.

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.