Jack's Trading Classroom | XRPUSD Ripple Coin Convergence Pattern

Currently, we are looking at the four-hour candlestick chart for XRPUSD.

We are currently looking at the four-hour candlestick chart of XRPUSD.

Within the Ripple chart, we see a typical symmetrical triangle pattern, with a retracement to the support trendline at the low point, coinciding with the Fibonacci sequence 38.2 at 1.2156.

After a short-term breakthrough above the upper trendline followed by a retracement, the moving averages have formed a bullish alignment, indicating overall bullish sentiment.

Once the upper trendline is broken and stabilized, the Fibonacci levels 127.2-138.2 can be seen as the first resistance target in the short to medium term, ranging from 2.0111 to 2.1095.

In recent days, the digital currency market has experienced significant volatility. It is recommended that traders strictly adhere to risk management practices and avoid high leverage and high contract volumes to prevent additional losses caused by volatile market conditions. This article reflects personal opinions and readers should exercise caution and discretion. Cryptocurrency trading may pose risks to your capital.

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