XRP’s ‘most bullish pattern’ targets $6 despite latest correction

XRP was trading at $2.82, following a 23% decline over the past week, but technical analysis suggests a potential upside. Analyst Mickybull Crypto identified a cup-and-handle chart pattern indicating a possible rally to $6.20, representing a 120% increase from current levels. Consolidation around key price levels is noted, with critical support at $2.80 and a necessary flip of $3-$3.10 into support to trigger further gains. Despite the positive outlook, XRP’s daily momentum has decreased, implying potential corrections towards the handling boundary at $2.55, which could present a buying opportunity. Moreover, short-sellers might face liquidations above $2.90, potentially driving XRP towards $3.20 if the psychological level is breached. Strong support is evidenced around $2.80, where significant trading volume has occurred, enhancing belief in a rebound towards $3. Sustaining above this level is crucial for aiming toward new all-time highs.

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