B3bit

06/23 02:15看漲

XRP Still Has a Very Bullish Market Structure as P

#World Cup Predictions: 100,000 USDT Daily #BTC Prophet: 20-Day 380 Million HTX Challenge #HTX Creation Challenge — Post and Win 1,500U 💥

XRP Still Has a Very Bullish Market Structure as Price Finds Support Around Major 2021 Level The current XRP downtrend may have lasted for a long time, but it still maintains a bullish long-term structure and could rebound considerably soon. At the time of writing, XRP trades at $1.13. Barely one year ago, the coin made a new all-time high of $3.66, breaking its over 7-year peak price. Now, the 69% correction from that peak to the current level comes amid a prolonged price downtrend that has plagued the entire crypto market. If the month closes as it stands, XRP would have dropped in 8 of the last 9 months, with the exception being the mild 2% increase recorded in April. This clearly reflects the current state of the market and how bears have dominated proceedings for a long time. Nonetheless, higher timeframes paint a different picture. While the trend has been corrective for months, the 1-month chart shows that XRP still maintains a bullish structure. The asset has consistently made higher highs and higher lows since inception. Even the current bear market has not broken this trend. As such, this downward push could be another higher low pattern where price retests key resistance-turned-support zones before another uptrend to new highs. This consistent broader bullish structure continues to strengthen the narrative that the current prolonged decline could be temporary and part of a broader bullish picture, as long as the asset holds key price levels.

1分享