- If XRP reaches this upside target, the price of XRPEPE could rise by up to 300% and reach 0.004$.
- The technical assessment shows that it is in the bullish region, where the bull flag formed and points to further up move after consolidation.
- If the breakout happens as expected, by the end of the year, XRPEPE may carry a market cap of $5 million and be considered a mid-to-small cap altcoin.
Clearly, the cryptocurrency market has its eyes on XRPEPE because it seems to be exhibiting a bull flag pattern in the charts. Analysts are predicting an upbeat that will help pierce through the roof and reach a new high. Currently, one XRPEPE is trading slightly below $0.001236; still, future estimates indicate that the goal could get as high as $0.004. This would be three times the present level, and the traders as well as investors would be charged with the thought.
Technical Analysis indicates a Bullish Trend
The current technical structure of this stock namely XRPEPE reveals a bull flag formation pattern. Such a pattern normally signals the prospect of sustaining the preceding up move after spending sometime in the consolidation phase. Bull flag is usually developed after a directional move and it is, in fact, a small downward or range-bound movement. In XRPEPE’s case, the formation of the bull flag affirms that high anticipation for the market to pop to the upside might be expected soon.
If the breakout occurs in the manner mentioned above, XPREE could seek a $0.004 target price, a 300x pump from its current position. It may be due to continuously rising investors’ attention and developing trading activity in the BRICs stocks. However, as seen in these patterns, breakouts pose high risk and the market gurus advise that the breakout should be treated with equal risk
The Market Cap Expectations
In addition to the price rising, analysts think that the market capitalization of XRPEPE will continue to expand in the following weeks. This is a clear indication of the potential in the market and if the estimated breakout will occur, it might reach $5 million by the end of the year. This would make XRPEPE one of the more popular relatively small capitalization altcoin that is steadily gaining ground in the sector.However, based on the optimistic prognosis, it is necessary to remember that market conditions can change unexpectedly.
The post XRPEPE Targets $0.004 as Bull Flag Pattern Strengthens appeared first on Crypto News Land.
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