Analysis of $XRP in the short and medium term.
As you know, the news from #xrp is not very encouraging, the fundamentalist news about this crypto is not the best, due to judicial demands after very inconsistent arguments.
But what does the technical analysis tell us?
I have read several articles about the formation of a "Descending Triangle" (triangle No. 1) that has been forming for weeks and they predict a $XRP at $0.95, others at $0.85 and others less optimistic at $0.75, the truth is that they all These analyzes are very valid and sustainable in the analysis. I would say that this currency in the short term will easily reach those maximums.
But what about the "Symmetrical Triangle" (triangle N°2)
I don't see that they are talking about this pattern which is the one that has maximum potential for the coming months/years.
Unlike the descending triangle, this one has been forming for months and more than 3 years developing. Which gives him promotion potential with a huge margin.
Look at the bottom of the triangle, #xrp has respected the support in a forceful way. The volume level is overwhelming. It is in a very important ascending accumulation zone.
As the technical analysis indicates, a triangle pattern can develop in hours, days, months and years. But the longer it takes to form, the stronger and safer the trend that the pattern indicates will be.
Of course, don't try to guess when the pattern will break or expect an explosion in price. Technical analyzes are based on "probabilities" from past analysis and everything depends more on the optimism of the market than that of the patterns.
But also understand that patterns are generated by market sentiment and not by price. Pratrons are a product of behavior.
It's just a point of view. You make your decisions. Perform your analyzes and consider your future investments.
As you know, the news from #xrp is not very encouraging, the fundamentalist news about this crypto is not the best, due to judicial demands after very inconsistent arguments.
But what does the technical analysis tell us?
I have read several articles about the formation of a "Descending Triangle" (triangle No. 1) that has been forming for weeks and they predict a $XRP at $0.95, others at $0.85 and others less optimistic at $0.75, the truth is that they all These analyzes are very valid and sustainable in the analysis. I would say that this currency in the short term will easily reach those maximums.
But what about the "Symmetrical Triangle" (triangle N°2)
I don't see that they are talking about this pattern which is the one that has maximum potential for the coming months/years.
Unlike the descending triangle, this one has been forming for months and more than 3 years developing. Which gives him promotion potential with a huge margin.
Look at the bottom of the triangle, #xrp has respected the support in a forceful way. The volume level is overwhelming. It is in a very important ascending accumulation zone.
As the technical analysis indicates, a triangle pattern can develop in hours, days, months and years. But the longer it takes to form, the stronger and safer the trend that the pattern indicates will be.
Of course, don't try to guess when the pattern will break or expect an explosion in price. Technical analyzes are based on "probabilities" from past analysis and everything depends more on the optimism of the market than that of the patterns.
But also understand that patterns are generated by market sentiment and not by price. Pratrons are a product of behavior.
It's just a point of view. You make your decisions. Perform your analyzes and consider your future investments.
