A well-known cryptocurrency analyst has identified a large "macro W" pattern on XRP's monthly chart, suggesting a potential long-term bullish structure. The second phase of this pattern is currently retesting near the 1.60 to 1.80 dollar range, with a bullish hammer candle indicating buyer support. A key trigger point in the near term is price sustaining a break above 2.00 dollars, which could pave the way for higher targets. The analyst believes there is a 25% to 35% probability of price rallying to 22 dollars, and a 50% to 60% probability of rallying to 3 to 8 dollars. XRP is currently trading at 1.40 dollars.
A well-known cryptocurrency analyst has identified a large "macro W" pattern on XRP's monthly chart, suggesting a potential long-term bullish structure. The second phase of this pattern is currently retesting near the 1.60 to 1.80 dollar range, with a bullish hammer candle indicating buyer support. A key trigger point in the near term is price sustaining a break above 2.00 dollars, which could pave the way for higher targets. The analyst believes there is a 25% to 35% probability of price rallying to 22 dollars, and a 50% to 60% probability of rallying to 3 to 8 dollars. XRP is currently trading at 1.40 dollars.