The Post XRP price ready to explode to $ 5-herhen when! First appeared on Coinpedia Fintech News
The XRP price is currently confronted with a huge sales pressure, which has dragged the levels below $ 2.2 during early trading hours. The Token broke the most important support levels and validated a continuation of a bearish pattern with the volume that sticks to $ 2 billion, which suggests that the traders could have jumped in to leave their positions. But what forced them to do this?
The XRP price from Ripple is influenced by several factors with regard to Fundamentals and Technical Factors. The platform has recently been integrated with traditional finances instead of completely replacing it. On the other hand, Ripple followed another course and unlocked 1b XRP Escrow in the midst of the ETF -Buzz.
Unlocking a billion XRP adds a delivery risk in the short term, but the real impact depends on whether it enters the open market. That is why the XRP deflation cycle sends mixed signals while Ripple broke their routine with a huge internal shuffle and most tokens returned to an Escrow account. So what is the following? How will the XRP price reach $ 5 as predicted?
The XRP price tested the upper resistance of a textbook weekly symmetrical triangle after months of consolidation. The Token acts within a bullish continuation setup and is approaching a breakout zone. Since the XRP price remains within an extensive bear market accumulation of the lows from 2022 to the last weeks of 2024. That is why the resistance of the pennant can, as soon as the price breaks, rise by almost 500%, comparable to the pole of the bull flag and rises above $ 4.5 and can probably reach $ 5.