An analyst has explained how XRP could eventually reach a $4.40 price target based on the bull pennant pattern that has formed in its 4-hour price. XRP Has Just Shown Its Third Straight Bull Pennant Pattern In a new post on X, analyst Ali Martinez has discussed the bull pennant patterns that have formed for XRP recently. The “bull pennant” refers to a formation from technical analysis (TA) that occurs after an asset shows consolidation inside a triangle following a sharp uptrend. The pattern is made up of two parts: a pole and a ‘pennant.’ The pole corresponds to the initial uptrend in the asset’s price. This is exactly the same kind of structure that precedes the consolidation phase in a “bull flag.” Related Reading: Bitcoin Flash Crash Causes $710 Million In Crypto Long Liquidations Where a bull pennant diverges from a bull flag is in terms of how the consolidation of the asset occurs. In a flag, the price moves between two parallel lines, while in a pennant, it’s between two converging trendlines. The upper line of th ..
Support the originator by clicking the read the rest link below.
