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Have any brothers recently noticed the weekly trend of XRP? Honestly, the candlestick patterns over this period are quite interesting.
Having watched the crypto market for many years, I am particularly sensitive to these "trend pause" formations. Many newcomers tend to get anxious over short-term fluctuations, but as long as you understand the underlying logic, it’s not that complicated.
**First, the conclusion: This is a textbook bullish flag correction**
Just look at the weekly charts from the past two months to see clearly. The core logic of a bullish flag pattern is: first, a flagpole; then, a flag surface. The strong rally earlier was the flagpole, and the current narrow sideways movement is the flag surface. In simple terms, this is the market catching its breath after a rapid rise, digesting profit-taking and preparing for the next surge.
**What truly deserves attention is the strength of the support**
This is the most convincing part of this pattern. When the price recently tested the lower channel support at $1.61, I kept a close eye on the chart. And what happened? A direct rebound, without a significant retracement. What does this indicate? The buying support below is far stronger than expected, and the bulls haven't given the bears many opportunities.
From a technical perspective, whether a support level is effective depends on how many times it has been tested and the strength of the rebounds. The $1.61 level has now become a "hard support," successfully defended multiple times. Such patterns usually imply that, after the flag surface completes, an upward breakout could have a relatively significant target—previously discussed $4 target now seems to have new rationality.
**Why is this wave worth paying attention to**
Many people might say, "Isn't this just a normal consolidation?" But the key differences are: the pattern’s conformity, the stability of support, and the volume cooperation. If these three elements align, it’s not just a sideways move but a clear signal of accumulation.
Of course, no technical pattern is 100% accurate. But when multiple details point in the same direction, the probability of success increases significantly. Currently, this flag pattern, from its formation time, support strength, to target space, shows a high degree of integrity.
Final words: Don’t let short-term market noise disrupt your rhythm. Learning to recognize these standard patterns can help you reduce unnecessary anxious trading.