XRP Price Trend Update: Whats Next After Breakout at $1.42?
Key Takeaways:
- XRPs trend remains bullish as the uptrend stays intact.
- A short-term focus shows key levels to watch for breakout or potential pullback.
- Until the Wave Trend confirms a bearish cross, the momentum remains upward.
XRPs market trajectory continues to be shaped by the ongoing bullish momentum, as confirmed by the Wave Trend analysis. According to a recent update from analyst EGRAG CRYPTO, following the Wave Trend method, XRP is currently in a strong upward phase, with no confirmation of a cycle ending yet.
The Wave Trend chart points to an increased slope, which means that there is much room for growth in price despite the brief bearish dip of late. The key is that XRPs uptrend remains intact until a clear bearish cross is observed on the Wave Trend.
This technical indicator signifies that the upside potential of the market exists, with a clear positive momentum confirming the continuation of the current bullish trend. As long as the cycle remains locked up, investors can be confident about XRPs prospects for further upside potential.
Short-Term Outlook: Critical Price Levels
While long-term trends take precedence, the short-term movement in price is also very closely considered. The critical levels of price have started to come into play, and so all eyes are on the 4-hour timeframe now. Above $1.42 will be an important breakout to confirm XRPs upward move, failing to hold above could be a pullback.
He further says that if XRP fails to sustain the present performance, then $1.19 is the next key level of breaching. This might still retest at $1.10, and traders must continue to be aware that their target could, in fact, be a potential price if going down. These are the benchmark levels of the succeeding action since they provide both the target for optimism and warned caution.
XRP Investors: Stay Strong Amid Market Volatility
Those tracking XRPs progress must be sure to keep it steady and strong. The market might be erratic, but if there is no bearish cross in the Wave Trend chart, the dominant force is considered bullish momentum.
Moving forward, investors will want to pay attention to the key resistance and support levels within the market, ready to shift with changes as necessary, according to to the analyst.
Overall, sentiment is positive, and the trend is favouring upwards for the most part. While the trend is bullish, XRP would go further higher unless a bearish cross occurs. Continue monitoring the price action around key levels for short-term direction at $1.42 and $1.19.
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Read more: https://www.tronweekly.com/xrp-price-trend-update-whats-next-after/
Text source: TronWeekly
