ريبيل

3month chart on logarithmic has bullflag w/ a 1k breakout target

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If xrp can maintain solid support above $1.65 or so for multiple consecutive 3month candles on the logarithmic chart, it should confirm the breakout of this green bullflag that it has been consolidating inside for the past 5 years now. If it can initiate this breakout by July of 2024, the measured move breakout target for the flag would be as high as $1000. Of course, being a 3month timeframe chart pattern we are looking at here, reaching it’s full measured move breakout target could take over 1-2 years from the point of the breakout maybe even slightly longer. Something to keep an eye on anyways. Hopefully, we can see xrp break above the $1.60 zone much sooner than that as the flag is definitely long enough at this point to where it could break upward at any time really. No guarantee it will but for now I think probability currently favors an eventual break upward from the flag rather than a breakdown.Also always possible it could revisit the bottom of the flag one last time to retest its support which if that appended imo that would be a phenomenal discount and opportunity to accumulate(providing the bottom trendline proved that it was going to hold as support). *not financial advice*

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