XRP Price Analysis: Triangle Pattern Signals Major Breakout
Ripple (XRP) is poised for a potential surge, with significant price targets predicted. Crucial Ripple and SEC meetings were rescheduled, sparking investor interest. According to a recent analysis by a renowned crypto influencer, Ripple’s coin (XRP) is expected to exceed $1 and perhaps reach double digits. Good Morning Crypto posted a weekly timeframe chart of [...]
- Ripple (XRP) is poised for a potential surge, with significant price targets predicted.
- Crucial Ripple and SEC meetings were rescheduled, sparking investor interest.
According to a recent analysis by a renowned crypto influencer, Ripple’s coin (XRP) is expected to exceed $1 and perhaps reach double digits.
Good Morning Crypto posted a weekly timeframe chart of XRP, indicating that the price is about to break through a triangular formation, a setup similar to previous price movements that resulted in large rallies.
$XRP FINAL SHAKEOUT IS OVER!!
— Good Morning Crypto (@AbsGMCrypto) July 20, 2024
XRP Poised for Breakout with Ambitious Price Targets Identified
According to Good Morning Crypto, by using Fibonacci methods, three price goals for XRP have been identified: $2, $16, and greater than $50. This ambitious forecast has sparked interest from both investors and traders.
Furthermore, as in our prior report, well-known crypto analyst Miky Bull Crypto has expressed similar analysis, implying that XRP could repeat its prior bullish patterns.
In his analysis, he believes that XRP might hit $10, a huge milestone that would represent a big gain from current levels. As of this writing, XRP is trading at roughly $0.6028, down 0.11% over the last 24 hours. This tiny drop comes after a strong 10.29% bullish surge during the previous week, signaling a healthy consolidation period.
Despite this slight setback, XRP remains above the critical support level of $0.60, which traders are keeping a close eye on.
Whale Alert Reports a Massive Token Transfer
Previously, Whale Alert reported a large transfer of XRP tokens worth $14.52 million from a Binance wallet to an unknown wallet. This huge flow of funds has fostered conjecture and curiosity among the community, which is frequently a forerunner to significant market activity.
On the other hand, Ripple and the SEC have rescheduled their meeting for July 25th. This conference is of great importance to XRP advocates and investors since the decision could have far-reaching repercussions for XRP’s future and regulatory status.
The delay and rescheduling of this meeting have only added to the excitement and conjecture around XRP’s near future.
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