Expert Reveals Price at Which XRP Will Finally Break 6-Year Triangle
The post Expert Reveals Price at Which XRP Will Finally Break 6-Year Triangle appeared on BitcoinEthereumNews.com.
As XRP witnesses an unexpected resurgence during a red market, a distinguished market analyst identifies the price point at which XRP could break its six-year downtrend. XRP has engineered another rare and impressive uptrend at a time when the crypto market sentiment is bearish. Yesterday, Bitcoin’s retest of the $65,323 low caused altcoins to bleed but not XRP. Notably, XRP initially followed Bitcoin’s path and crashed to around $0.59. While Bitcoin and most altcoins have yet to recover, XRP later defied the bearish trend, skyrocketing by 10.14% to hit $0.6579, setting a new four-month high. At press time, XRP continues to preserve most of the gains, trading at $0.6414. Moreover, XRP now ranks as the best-performing crypto asset among the top 100 under the 24-hour timeframe. XRP ranking top | CoinMarketCap This impressive performance amid a bleeding market has attracted wild reactions from the crypto community, sparking increased conviction about its prospects in this bull market. Commenting on XRP’s future path is renowned market watcher Ali Martinez, who rarely voiced an opinion about XRP’s price action. Taking to X, Martinez remarked on how XRP could continue its bullish trajectory towards the $1 level. $XRP has been consolidating within a symmetrical triangle for 6 years! A bullish breakout could occur if #XRP surpasses $0.90. pic.twitter.com/YzW3jDuvF9 — Ali (@ali_charts) July 30, 2024 Price at Which XRP Will Break 6-Year Triangle First, the technical analyst pointed out that XRP has been ranging within a symmetrical triangle for more than six years. Notably, the formation took its height from XRP’s 2018 peak. With XRP witnessing lower lows from then on, the resulting pattern translates to a giant symmetrical triangle. Amid XRP’s latest comeback, Martinez noted that XRP could finally crack this six-year downtrend pattern by surpassing the $0.9 price level. This breakthrough suggests…
Filed under: News - @ July 31, 2024 12:28 pm