XRP fractal could push ETH price toward $7,600
In November, XRP broke out of a symmetrical triangle pattern that formed over six years, triggering a parabolic rally from around $0.50 to over $2.94.
The $2.94 level aligns with XRP’s 1.618 Fibonacci retracement level, and was serving as resistance as of Dec. 7.
Ethereum is undergoing what appears to be a similar breakout trend as XRP’s. In the week ending Dec. 8, the cryptocurrency has broken above the upper trendline of its three-year-old symmetrical triangle pattern.
If Ether price repeats XRP’s parabolic trend, it will likely climb toward the 1.618 Fibonacci retracement level at around $7,636. In other words, a 90% rally by December 2024 or January 2025.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit