This article is also available in Spanish.
Recent XRP price movements It created a huge buzz in the cryptocurrency market, as the cryptocurrency witnessed a significant price surge and crossed crucial resistance levels. With its recent bullish momentum, XRP has achieved just that Break of the main bullish patternAs a result, one cryptocurrency analyst predicted that it is likely to jump 4X to new highs of $2.6.
XRP price sets mid-term target at $2.3
After experience Slow growth and downward momentum In the past few weeks, XRP has sparked renewed confidence among investors with its recent price surge. Over the past seven days, the price of XRP has risen by 8.93% and is now up Showing signs of further gains in the future.
Related reading
This bullish outlook was shared by prominent cryptocurrency analyst, Captain Vibeke, who revealed on X (formerly Twitter): mail On September 28, XRP just broke out of a unique bullish pattern, indicating a… Possibility of a significant rise in prices.
In Faibik’s XRP price chart, a multi-year bullish symmetrical triangle pattern can be seen. This triangle pattern began forming in October 2021 and extended until September 2024, with XRP is experiencing significant price fluctuations Throughout this period.
After seeing its first significant price rise in weeks, XRP has succeeded It broke out of this ascending triangle pattern. The extent of the recent increase in XRP prices is evident in CoinMarketCap data, which indicates that the cryptocurrency jumped by 4.73% in the past 24 hours.
This significant price increase indicates that XRP may be aiming to rise significantly above its previous price Levels of unification About $0.5. As of the time of writing, XRP is trading at $0.64, underscoring the potential rise in investor interest and demand for the cryptocurrency.
By breaking out of this ascending triangle pattern, Weibeck believes so XRP may be on its way to a massive rally It could push its price by 4X. The analyst announced that XRP is currently poised for a massive breakout of its mid-term targets at $2.3.
XRP breaks critical trend line
Cryptocurrency analyst and Elliott Wave, known as “XForceGlobal” on X Highlight Unique Trend line in XRP price chart. According to the analyst, XRP has just broken the “multi-layered BD trend line” and may be heading towards a price increase.
Related reading
XForceGlobal suggested that if XRP can maintain a price above this trend line for a few more weeks, it could see a price rise of $7 to $10. The analyst expressed his confidence in him Bullish outlookWhich suggests that a rise within this range was inevitable if the right conditions were met.
To be more precise, the analyst predicts this through a detailed chart XRP price The price will likely rise to $8.67, which represents a 1,482% increase from its current price of $0.6.
Featured image created with Dall.E, chart from Tradingview.com
Comments are closed, but trackbacks and pingbacks are open.