Criminal Activity Afoot: Expected Uptick in XRP's Value – When Can We Anticipate the Next Surge?
In the dynamic world of cryptocurrencies, XRP continues to hold its ground, displaying signs of recovery despite recent market fluctuations. This optimistic view is shared by Bitcoin and blockchain technology specialist, Charles Ledoux, who has penned numerous articles on the subject.
According to Ledoux, XRP's current position within an ascending triangle pattern, a bullish technical structure, indicates a potential bull run in the long run. Key levels of resistance include $3.15, $3.33, $3.55, and $3.66, while support can be found at $2.95 (short-term) and $2.72 (final invalidation).
The recent increase in the 1 to 3-month holder cohort, which occurred after XRP reached its August low of $2.77, suggests growing conviction among recent buyers. This trend is further supported by the drop in the profit supply percentage of XRP from 98.26% to 93.53%, a sign of a potential slowdown in profit-taking.
However, it's important to note that a complete bearish reversal could occur if the support at $2.72 is breached. In such a scenario, XRP could potentially retrace to $2.10 in the coming weeks, representing an opportunity for investors, according to Ledoux.
For those interested in purchasing XRP, here's a step-by-step guide on Bitget exchange: Sign up, deposit funds, select the XRP pair, and buy XRP using a market or limit order. New users can even earn a $10 bonus upon their first purchase.
It's worth mentioning that XRP's bullish trend is not solely based on Ledoux's analysis. The expansion of the XRP acceptance network to include 6,500 American pharmacies is a testament to the growing adoption of XRP.
Other authors contributing to the platform Bitcoin2Go, such as Lennard Merten and Philipp Henk, focus on market trends, technology, and regulatory developments in the cryptocurrency sector. Their articles provide valuable insights into the current state and future potential of XRP and other digital assets.
As a Bitcoin miner for over a year and a graduate of the Crypto Academy, Charles Ledoux aims to share his passion for crypto through his articles on the platform, offering valuable insights to both newcomers and seasoned investors alike.
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