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Watch XRP: Key Levels Set to Spark Action in the Coming Week

Ripple’s XRP has been moving horizontally without a clear direction over the past week. The popular altcoin is trapped between the $3.08 and $3.14 range, experiencing a decline of over 2% weekly. The completion of a triangle formation on January 13 signals an impending breakout. Analysts emphasize the potential for upward movement in the upcoming weeks based on the Elliott Wave Theory, although the possibility of testing support levels and a correction cannot be overlooked.

The technical chart of XRP indicates that the completion of the triangle formation is interpreted as the beginning of a new trend. Particularly, the $2.52 level stands out as critical support during declines. A definitive close below this level could lead to a deeper correction in prices. Conversely, if an upward breakout occurs, targets of $4.20 and $5 will be closely monitored.

Watch XRP: Key Levels Set to Spark Action in the Coming Week

Ripple’s XRP has been moving horizontally without a clear direction over the past week. The popular altcoin is trapped between the $3.08 and $3.14 range, experiencing a decline of over 2% weekly. The completion of a triangle formation on January 13 signals an impending breakout. Analysts emphasize the potential for upward movement in the upcoming weeks based on the Elliott Wave Theory, although the possibility of testing support levels and a correction cannot be overlooked.

The technical chart of XRP indicates that the completion of the triangle formation is interpreted as the beginning of a new trend. Particularly, the $2.52 level stands out as critical support during declines. A definitive close below this level could lead to a deeper correction in prices. Conversely, if an upward breakout occurs, targets of $4.20 and $5 will be closely monitored.
https://en.coin-turk.com/watch-xrp-key-levels-set-to-spark-action-in-the-coming-week/