XRP price bull flag hints at 20% rally by New Year’s

XRP (XRP) price may rally over 20% in the coming weeks thanks to a classic bullish continuation setup.

XRP price enters bull flag breakout stage

The so-called bull flag pattern develops when the price consolidates inside a parallel channel after a strong uptrend. It resolves after the price breaks above the upper trendline with convincing volumes and rises by as much as the previous uptrend’s height.

As of Nov. 26, XRP was trading above its bull flag’s upper trendline, albeit accompanying weaker volumes. That technically indicates a weaker conviction among traders about XRP’s bullish continuation. 

XRP/USD daily price chart. Source: TradingView

The duration of traders’ indecisiveness could…

Read more on Cointelegraph

32.4K Reads