XRP May Repeat 2016 Bullish Pattern, September Monthly Close Is Key
- —XRP rallied 27.6% from $1.25 to $1.58, completing the right shoulder of an inverse head-and-shoulders
- —Whales accumulated over $2 billion worth of XRP during the move
- —A breakout above $1.60 resistance opens the $2 target, with $1.41 as key support
- —Peter Brandt sees a technical path to $5.40, about 257% above current levels
Why it matters: The 2016 pattern and whale accumulation make the September monthly close and a break of $1.60 the key triggers for XRP's next move.
Source: Blockmedia