- XRP building a strong symmetrical triangle pattern.
- XRP may reach $2 in no time.
XRP (XRP) is one of the solid digital assets in the crypto space that has already established its reputation in the market. Furthermore, its partnership with Ripple, which has been on the front pages for quite some time now due to its never-ending issues with the US SEC, makes the coin famous in the market.
As seen in the graph above, XRP is forming a long symmetrical triangle pattern. This means that if XRP keeps positioning itself in an uptrend position, there might be a chance that the crypto may boost and smash its first resistance level at $1.44. If it does, traders and investors can look forward to XRP hitting the skyrocketing price of $2 in no time.
However, this forecast still depends on the performance of its investors in the network. If XRP (XRP) will be able to sustain its existing investors and invite more, the chance of surging its price will not be a discussion anymore.
Meanwhile, the Relative strength index (RSI) of the crypto is now back in the 70-30 range. In other words, crypto enthusiasts can now trade with confidence without worrying about any major price reversals. But of course, it is still recommended to stick with the rules of your indicator to avoid losses that cannot be reverted.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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