XRP price technical analysis

XRP price technical analysis

The XRP token has formed at least for highly bullish chart patterns that signal more gains ahead:

• Golden cross
• Bullish pennant.
• Cup and handle.
• Bullish flag.

The daily chart shows that the coin formed a golden cross pattern on July 11 as the 50-day Weighted Moving Average crossed above the 200-day one. This price action was a sign of the rally’s ongoing strength. In most periods, this pattern often leads to more gains. For example, XRP price jumped by over 500% after forming the golden cross in November last year. 

XRP has also formed a highly bullish cup-and-handle pattern, with its upper side at $3.39 and the lower level at $1.6173. This pattern has a depth of approximately 53%, indicating that its target price is $ 5.20.