An analyst has pointed out how XRP could be set up for a potential 10% move based on a technical analysis (TA) pattern in its 15 minutes price.
XRP Has Possibly Been Trading Inside A Symmetrical Triangle
In a new post on X, analyst Ali Martinez has talked about a Triangle that XRP has been trading inside on the 15-minute timeframe. A “Triangle” is a TA pattern that appears whenever an asset consolidates between two converging trendlines.
The upper line of the pattern tends to be a source of resistance, while the lower one that of support. An escape beyond either boundary usually signals a breakout in that direction.
Triangles can be of a few different types based on the orientation of their trendlines. Triangles that have one line parallel to the time-axis fall in either the Ascending or Descending categories. The pattern is an Ascending Triangle when the upper level is the parallel line, while it’s a Descending Triangle if the consolidation range shrinks to a downsi
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