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Ripple’s XRP Boost to $1 Price Imminent As Super Bullish Driving Factors Come To Light – ZyCrypto

Based on these key factors amid Ripple victory in SEC battle, $10 XRP price rocket fuel looks close

It is likely that XRP will surge above the $0.90 price level to $1 upon breaking out of the current range.

Cryptocurrency trader Be’lakor denounced this development on X (formerly Twitter), said, “It appears that an XRP flag formation is forming. The formation target coincides with the Fibonacci resistance at USD 0.90. They may want to execute the formation above 0.67.”

Based on this analysis, XRP needs to recover $0.67 to validate the formation. Based on market valuation, the fifth-largest cryptocurrency has already experienced a pennant pattern, which could indicate imminent bullish momentum.

A pennant in the shape of a small symmetrical triangle signals a continued trend in the short term as there is a short-term consolidation as the underlying trend is expected to resume. is showing.

Unraveling XRP’s key support and resistance levels

The crypto market is set to change as Chao Changpeng (CZ) steps down as CEO of Binance as part of a settlement with the US Department of Justice that will see the world’s leading crypto exchange pay a fine worth $4.3 billion. The value has fallen somewhat.

For example, XRP has fallen 3.4% in the past 48 hours, reaching $0.589 at the time of writing, according to CoinGecko data.

Borrowing a leaf from the formation of Gaussian channels and symmetrical triangles, principal analyst EGRAG CRYPTO highlighted key support and resistance levels to watch.

Source: EGRAG Crypto

Challenge Analyst X It pointed out, “Support levels to watch: Strong support: $0.50, Solid support range: $0.54 to $0.55, Support threshold: $0.60.”

EGRAG CRYPTO added that the main resistance level is located in the $0.83 to $0.85 zone based on the symmetrical triangle barrier.

As XRP dips below the key support at $0.60, the next support level based on our analysis for EGRAG CRYPTO is at $0.54 to $0.55, so pay attention as selling pressure could increase You shouldn’t.

Nevertheless, the analyst emphasized that a megapump is on the horizon, which could play a key role in validating Veracor’s assessment that XRP is on track to head towards the $0.90 zone.

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