A cryptocurrency analyst has explained how an XRP close above this level could trigger a run to $4.80, based on a technical analysis pattern.
XRP Could See A Surge To New Highs If It Manages This Weekly Close
In a new post on X, analyst Ali Martinez has cited a technical analysis (TA) pattern to talk about where XRP can go next. The pattern in question is a Parallel Channel.
Parallel Channels form whenever an asset’s price observes consolidation between two parallel trendlines. The upper line of the pattern is likely to be a source of resistance, while the lower one that of support. A break out of either of these levels can imply a continuation of trend in that direction.
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