EggSaffron
@t_EggSaffron
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EggSaffron
I will be looking for a structure like illustrated and trade accordingly while remaining flexible should the case be invalidated
EggSaffron
Just being creative about what could form out of this current price action.
EggSaffron
Played around with replicating an earlier trend and it interacted well with previously drawn trend lines you may recognise from previous works.
EggSaffron
Looks like the overall trend for me is clear. Up in some way. I am looking for a structure like this to form and to enter at confirmation points exiting at top level.
EggSaffron
If the pattern plays out a target of 589 is in the cards from a technical perspective. Disregarding fundamentals.This is an updated view on the 4h :
EggSaffron
I hope to see a similar structure forming on the 4h soon.Observing the recent price movements, there was a rapid and significant rebound from the lower trendline, which now serves as a support level. This development effectively negates the previously anticipated scenario. The overarching bullish trend appears to remain intact. Moving forward, close attention will be paid to subsequent price actions to gauge market sentiment.The current dynamics suggest we may be gearing up for a critical examination of the 56.5 to 57.5 cents price range. Successfully navigating through this zone could pave the way for an attempt to breach the upper declining trendline, presently situated at 60 cents. While the likelihood of reaching and testing this trendline is currently deemed low, it is anticipated that the probability of such an event will incrementally increase with each passing day.In essence, the market's resilience at the support level underscores the prevailing upward momentum, albeit with an awareness of the key resistance levels that lie ahead. Vigilant monitoring of price action around these strategic points will be crucial in assessing the potential for continuation or reversal of the current trend.
EggSaffron
If no fundamentals change until mid 2025 the trading pattern shows a bullish case targeting USD 1.98 for XRP that plays out over the next 12-15 months.
EggSaffron
Looks like a cup and handle pattern with a short term target of 0.60
EggSaffron
It looks like price could be shaping into an ascending triangle should the current push not close above the pattern.
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