Alright team, let's break down this juicy $XRP chart and see what's cooking on the weekly timeframe. This is a big one!
Technical Analysis: Preparing for Liftoff
The weekly chart is displaying a textbook Bullish Flag continuation pattern. After a significant pole, we've seen a corrective wave, stabilizing around the current price of $1.94. The correction appears to have found strong footing, having retraced approximately 50% of the initial move.
The critical support floor to watch is firmly set at $1.61. As long as we hold above this level, the structure remains highly bullish. A confirmed break out of the flag's resistance signals the start of the next parabolic leg, with the implied measured move target sitting aggressively at $4.00.
Fundamental Strength
Fundamentally, Ripple continues to make massive strides in establishing global utility. They are heavily involved in global Central Bank Digital Currency (CBDC) initiatives and cross-border payment solutions, expanding their real-world utility footprint. Furthermore, regulatory clarity following the SEC case provides a strong foundation for institutional confidence and adoption in the coming years.
Action Plan
I view current levels, especially near the $1.61 support, as prime accumulation zones. Patience during this consolidation phase will be heavily rewarded when the flag breaks upwards.
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