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R.Linda Trading - forecast

XRP → Rally to 0.730 ↑ The fundamental denouement is coming

2024-06-29 16:36 CRYPTO forecast

💡 Ideas For XRPUSDT 🪙

📈 XRP → Rally to 0.730 ↑ The fundamental denouement is coming

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XRPUSDT is approaching a possible decoupling, both technically and fundamentally. Positive signs of life could lead to a rally, first stop could be around 0.73.

snapshot

On W1, the coin is trying to live, but there is a huge fundamental reason that keeps the price from going beyond resistance and flat: The SEC v. Ripple litigation.

Technically:

Price continues to test the wedge resistance with the aim of breaking it, volatility decreases and consolidation continues. Below 0.4637 buyers are not letting the price in yet, which may lead to another retest of the resistance, which will only increase the chances of a breakout.

Price consolidation above 0.4962 will be the root cause of market character change and possible rally to 0.6265 - 0.73.

Support levels: 0.4637

Resistance levels: 0.4962, 0.5720

I expect that the buyers will still be able to break through the resistance of the bearish figure in the near future and ride the rally to the mentioned targets.

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