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XRP Price At a Crossroads As Wedge Pattern Signals 70% Crash or 700% Surge

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Summary
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64% Informative

Ripple (XRP) price is at a crossroads after forming an ascending broadening wedge pattern.

This pattern suggests that Ripple may be on the verge of a 70% crash or a 700% rally.

XRP short liquidations have surged to a 2-week high after recent gains, which caused a spike in buying pressure.

Analyst EGRAG noted that for a solid bullish breakout from this wedge pattern, XRP needed to close above the $ 3.50 price level.

Despite this bullish thesis, headwinds still lie ahead.

VR Score

47

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35

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formal

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English

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28

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short-lived

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