Altcoins News
By Jean-Luc Maracon
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Triangle Pattern Points to $1.82 or $1.00. A symmetrical triangle means the market is coiling up.
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Another Analyst Sees Risk Below $1.39. CRYPTOWZRD, another crypto analyst, called XRP's recent daily close "indecisive.
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XRP sits at $1.39. The token hasn't done much lately, and that's got traders watching for a breakout.
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Martinez first flagged this setup on April 27. He said XRP needs to crack $1.41 to $1.43 if it wants to push higher. Drop below that zone? Things get ugly fast.
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A symmetrical triangle means the market is coiling up. Price action gets tighter and tighter until something snaps. Martinez sees a 26% swing ahead.
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Martinez told traders to wait for a confirmed daily close outside the current range. A close above $1.45 could open the door to $1.82. A close below $1.
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The monthly chart doesn't offer much help. XRP has been flat for a while, with a few rejections at $1.60 here and there. But nothing stuck.
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CRYPTOWZRD, another crypto analyst, called XRP's recent daily close "indecisive." The token closed near $1.393, and that level matters. CRYPTOWZRD said XRP needs to stay above $1.
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So traders are watching two key zones now. The $1.41 to $1.43 resistance on the upside. And the $1.393 support on the downside. Lose that support, and the path to $1.00 opens up.
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ETF inflows stayed steady in April. That's a positive sign, at least on paper. It means institutional money is still interested. But retail investors aren't jumping in yet.
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Bitcoin's price action plays a role here too. XRP often moves in tandem with Bitcoin, especially during big swings.
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Read also: XRP Traders Eye $1.3830 Break as Recovery Stalls Below Key Moving Average
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The symmetrical triangle is a textbook setup. Traders see these patterns all the time, and they know what usually happens next.
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XRP's current price of $1.39 is right in the middle of the danger zone. It's close enough to resistance that a small push could trigger a rally.
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CRYPTOWZRD's focus on $1.393 adds another layer. That level is slightly below Martinez's $1.41 to $1.43 range, but it's still critical. If XRP loses $1.
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