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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

XRP On The Verge Of A Surge: Analyst Pinpoints Next Bullish Targets

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
Ripple - XRP

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Renowned market analyst Ali Charts recently shared his insights, predicting a bullish trajectory for XRP. Ali, known for his market predictions, anticipates that XRP is on the brink of a major breakout, potentially escalating to a significant price range shortly.

Expert Analysis Of XRP’s Movement

Ali Charts has recently turned the spotlight on XRP. In his latest analysis, Ali predicts a promising upturn for XRP, expecting it to break out from its “descending parallel channel.”

This optimistic forecast points to a swift climb, targeting the $0.65-$0.66 range. The analysis is backed by a detailed chart Ali shared, elucidating the potential breakout pattern XRP is forming.

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1 year ago

This projection follows XRP’s peak performance on November 6, when it reached $0.72 per token – its highest valuation since late July.

Over the following weeks, XRP saw a slow downturn that brought its price to trade as low as $0.58 on Wednesday. However, the recent chart formations, as analyzed by Ali, suggest a potential reversal in this trend.

#Ripple | $XRP appears to be breaking out from a descending parallel channel, which may result in an upswing to $0.65 – $0.66 for #XRP. pic.twitter.com/gvfeEMKIDX

— Ali (@ali_charts) November 23, 2023

XRP Latest Price Action

Meanwhile, XRP has shown signs of a potential reversal from its recent ‘descending parallel channel,’ as indicated by analyst Ali. In the past 24 hours, the token has experienced a 2.9% uptick, climbing from its low of $0.58 seen yesterday to a current trading price of $0.61 at the time of writing.

XRP price chart on TradingView
XRP price is moving sideways on the 4-hour chart. Source: XRP/USDT on TradingView.com

This shift hints at a developing bullish momentum, aligning with Ali’s prediction of an imminent surge beyond the $0.65 mark. Notably, should the token’s price continue this upward trajectory, it could significantly bolster Ali’s analysis, possibly setting the stage for the digital asset to revisit and potentially surpass the $0.72 price level.

Such a development would confirm the accuracy of Ali’s forecasts and inject renewed investor confidence in XRP. However, it’s important to contextualize these recent gains against the broader picture.

Over the last two weeks, the altcoin has recorded a decline of over 10%, with a 2.7% decrease in the past seven days. This overall bearish trend is mirrored in the trading volume, which has notably reduced.

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Specifically, XRP’s daily trading volume has fallen from a high of approximately $2.4 billion seen earlier this month to around $1.1 billion in the last 24 hours. This dip in trading activity could indicate a cautious approach from investors, awaiting clearer signals of market direction before committing further, or maybe a regular trading activity in the asset.

Featured image from Unsplash, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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