Featured image from Dall-E, charts from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
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 the pennant is likely to be a source of resistance, meaning tops can probably occur at it. Similarly, the lower line may support the price. A break out of either of these levels can suggest a continuation of the trend in that direction; escapes above the pennant are bullish, while falls under it can lead to a bearish outcome. Like the bull pennant, a ‘bear’ pennant can also form in an asset’s price. This pattern works very much like the bull pennant, except for the fact that its pole corresponds to a downtrend instead. Now, here is the chart shared by the analyst that shows the bull pennant that XRP is traveling inside right now: As is visible above, XRP attempted a retest of the pennant upper level yesterday, but the asset appears to have found rejection as its price has gone down since then. It’s possible that the coin may find support at the lower level next, which is located at $2.25. The cryptocurrency is slowly moving towards the apex of the pattern, meaning a break in either direction might be on the cards in the near future. As for which of the two directions is more likely, perhaps history may hold the answer. Related Reading: Bitcoin Price At Crossroads: Will It Stabilize and Surge Again? From the chart, it’s apparent that this isn’t the first bull pennant that the asset has shown during the past month. Both of the previous two instances ended in the price finding a bullish breakout. Thus, XRP may obtain a similar outcome this time as well. As for how far the break might take the asset, Ali has mentioned a target of $4.40. This is based on the fact that pennant breakouts are generally of the same length as the pole. “We should all be praying for a retest of $2.25 to buy the dip and target $4.40!” says the analyst. XRP Price Following its drawdown during the past day, XRP has plunged to the $2.39 level. Featured image from Dall-E, charts from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":659482,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[89561],"tags":[4531,93530,87392,91732,78763],"class_list":["post-659480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp-news","tag-xrp","tag-xrp-bull-pennant","tag-xrp-bullish","tag-xrp-target","tag-xrpusdt"],"acf":[],"yoast_head":"\n
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Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Analyst Sets $4.40 XRP Target As 3rd-Straight Bull Pennant Forms","url":"http:\/\/ktsl888.com\/xrp-news\/analyst-4-40-xrp-third-consecutive-bull-pennant\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/xrp-news\/analyst-4-40-xrp-third-consecutive-bull-pennant\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/xrp_8de86c.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/xrp_8de86c.png?fit=1792%2C1024"},"articleSection":"XRP News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["xrp","xrp bull pennant","xrp bullish","xrp target","xrpusdt"],"dateCreated":"2024-12-09T22:00:54Z","datePublished":"2024-12-09T22:00:54Z","dateModified":"2024-12-09T22:00:54Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Analyst Sets $4.40 XRP Target As 3rd-Straight Bull Pennant Forms\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/xrp-news\\\/analyst-4-40-xrp-third-consecutive-bull-pennant\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/xrp-news\\\/analyst-4-40-xrp-third-consecutive-bull-pennant\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/xrp_8de86c.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/xrp_8de86c.png?fit=1792%2C1024\"},\"articleSection\":\"XRP News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"xrp\",\"xrp bull pennant\",\"xrp bullish\",\"xrp target\",\"xrpusdt\"],\"dateCreated\":\"2024-12-09T22:00:54Z\",\"datePublished\":\"2024-12-09T22:00:54Z\",\"dateModified\":\"2024-12-09T22:00:54Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/xrp_8de86c.png?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/659480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=659480"}],"version-history":[{"count":3,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/659480\/revisions"}],"predecessor-version":[{"id":659572,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/659480\/revisions\/659572"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/659482"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=659480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=659480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=659480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"XRP](\"https:\/\/pbs.twimg.com\/media\/GeWSfS5XMAEeIo2?format=jpg&name=large\")