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19 April 2021

XRP Targets New Yearly Highs After Crucial Breakout | Crypto Briefing

XRP Targets New Yearly Highs After Crucial Breakout | Crypto Briefing


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XRP has broken out of an inverse head-and-shoulders formation that has beendeveloping since late November 2020 on its 4-hour chart.

This target is determined by measuring the inverse head-and-shoulders’ widest range and adding that distance upward from the breakout point.

While the odds seem to favor the bulls, it is imperative to note that assets that breakout of inverse head-and-shoulders patterns tend to retest the neckline or breakout point before advancing further.

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