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Cryptocurrency Market: Bitcoin Hits Record High, XRP Shows Strong Growth

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by Giorgi Kostiuk

6 hours ago

The cryptocurrency market celebrates a significant milestone as Bitcoin (BTC) breaks records, while XRP demonstrates strong growth amid a new model.

Bitcoin's Record Update

Bitcoin (BTC) reached a new all-time high of $118,000, symbolizing a bullish trend in the cryptocurrency market. Ethereum (ETH) also showed impressive growth of 8%, crossing the $3,000 mark.

Harmonic Pattern of XRP

A well-defined ABCD harmonic pattern is forming on XRP's daily chart. The move started in April from point A near $1.61, followed by a rise to point B in early May. This was succeeded by a correction to point C near $1.91 by late June, fitting the typical harmonic sequence.

Outlook for XRP

If this harmonic pattern completes, the next key level is the Potential Reversal Zone (PRZ) around $2.93, representing a potential 13% increase from current levels. However, a retracement might occur before the full extension plays out as the market may face some profit booking.

The cryptocurrency market exhibits activity with Bitcoin reaching new highs and the development of harmonic patterns in XRP, signaling potential further growth.

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