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XRP Network Activity Spikes With Top Trader Bullish Talks

XRP Network is set to continue its upward trend.

A notable analysts in the industry insists that XRP Network is ready to resume its surge run.

Additionally, He predicts the XRP Network could hit new all-time highs breaking off the $1.17 resistance barrier.
XRP Network Ready For New All-Time Highs

The 40-year trading veteran Peter Brandt XRP’s price prediction is based on a multi-year head-and-shoulders pattern. Which has formed on its weekly chart.

“This is potentially a constructive long-term chart.” Peter Brandt September 15, 2021

In March, The sixth-largest cryptocurrency by market cap hit a massive 230% profit. Recording its breakout of the consolidation pattern. Then, XRP retraced to the head-and-shoulders’ neckline at $0.61 to shake off “weak hands.”

However, Prices is back above the $1.00 psychological level since Jul. 20. This is where the asset is currently consolidating.

Meanwhile, The Fibonacci retracement indicator shows that XRP Network is currently stuck in a tight corner. The 61.8% Fibonacci retracement level at $1.17 is acting as resistance. Meanwhile, the 50% retracement level at $1.00 is containing prices from a steep fall.

However, XRP could enter a new uptrend in order meet the target of the head-and-shoulders pattern at $3.42.
Building Network Activity

About 6,700 addresses are currently interacting with the network, showing a 394% jump from last week.

This will cause the price rises due to the increase in number of active wallets. Conclusively, Once it escapes resistance, it will towards a new all-time highs. However, if it loses the waiting support barrier, it will correct to $0.85 or even $0.70.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.