As we approach the end of the year crypto- Fluctuations continue in the markets. Many tokens are extremely volatile. On the other hand, some preferred to maintain a choppy trade until a new trading cycle began.
Meanwhile, BTC price is showing the possibility of a bearish trend reversal. In addition altcoin‘s are likely to gain traction in the coming days.
In addition XRP Popular altcoins in the top 10 such as are also under the influence of an increase. Many of these are sustaining an ascending consolidation, creating sustained highs and lows.
Interestingly, the price of the crypto asset formed a similar pattern in both the short term and long term. It is possible to say that this shows that the token will experience a big break.
As seen in the chart above, XRP price is trading within a decisive symmetrical triangle on the weekly chart and daily chart. The price consistently fails to break through the upper resistance, resulting in rejection. However, the lower ascending support has held well. This shows that the bulls are active and under control. Additionally, the impending squeeze with Bollinger bands indicates a decrease in volatility.
It is possible that this could force the price to continue a sideways trend and fluctuate between $0.595 and $0.615. However, as the congestion clears, it is believed that the price will rise or fall depending on the dominant volume. Current trading conditions indicate that the XRP price remains bullish as it remains well above the 0.236 FIB level.
The pressure following a breakout from the symmetrical triangle and the release of the band is likely to push the XRP price beyond $0.8.