Over the last seven days, XRP has broken above the critical $2.50 zone, gaining 21.47% on the weekly chart to trade at $2.59 as of May 14.
After trading lower through April and threatening to stabilize well below $2, the third most popular cryptocurrency has now entered a parallel ascending channel promising to take it toward the $3 to $5 zone in the coming months, according to an analysis posted on May 13 to TradingView by Rocksorgate, a chart expert focusing on the XRP token.
An ascending parallel channel is a technical analysis (TA) chart pattern that occurs when an asset records a series of higher highs and lows that fall within the bounds set by two sloping lines marking the trend boundaries. It is also known as a rising channel or a channel up.
$2.50 remains a critical support zone for the XRP May rally
Additionally, the assessment provided by the prolific analyst confirms not only that the levels between $2.48 and $2.50 were critical but also that, per the Fibonacc
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