XRP Primed For A Major Breakout, The Next Price Target Will Shock You
2024年8月20日 - 5:00AM
NEWSBTC
Amid recent market volatility, major cryptocurrencies like XRP have
seen a wave of optimism among investors and traders as several
crypto analysts continue to offer bold predictions regarding the
altcoin. Even though XRP has not been able to witness a massive
surge since its rally to its current all-time high in 2017, these
analysts are confident that a similar move could take place in the
ongoing bull cycle. Is XRP On The Brink Of Hitting A New All-Time
High? In an audacious prediction, well-known crypto expert and
trader, Xaif, delving into the current price action of XRP, has
claimed that the crypto asset is preparing for a possible
significant breakout, suggesting renewed strength for a major rally
ahead. Xaif made the bold prediction after citing a bullish
Symmetrical Triangle pattern on the altcoin‘s chart in the weekly
timeframe. Related Reading: Can The XRP Price Cross $250? Crypto
Analyst Predicts 42,000% Breakout Specifically, this pattern
develops when an ascending line connecting the lows and a
descending line connecting the highs converge. Also, they suggest a
consolidation phase before a potential breakout on the upside or
the downside. However, in this scenario, the crypto expert has
identified an impending massive breakout for XRP on the upside,
indicating a possible strong move for the digital asset in the
upcoming days. Analyzing the magnitude of the breakout, Xaif has
set his next price target for XRP at the pivotal $150 level in the
next 6 months. Xaif’s prediction appears to have caused quite a
frenzy in the community as crypto enthusiasts express their strong
displeasure with the analyst’s bold forecast. Despite the nature of
crypto assets to undergo wild price swings, these enthusiasts have
criticized the analyst for his claims believed to impact the
community negatively. While the community has slammed his
projection, Xaif remains firm, noting that the token is a real-life
utility and that the possibility of XRP handling transactions
globally will catalyze this massive rally to the $150 threshold and
even higher. However, Xaif, in another post, highlighted that
XRP is stabilizing with a rising trendline between the $0,5650
support range and the $0.6450 resistance level. Meanwhile, a
decline below $0.5650 or the trendline may indicate a negative
trend, while a breakout above $0.6450 would suggest a bullish move.
The Altcoin Needs To Break Through Key Resistance Levels Whether a
move to the $150 level looms, XRP is poised for a bullish breakout.
Another crypto analyst, Fiatleak, has forecasted a breakout
for altcoin in the short term. Related Reading: Analyst Says
XRP Price Will Rally 10,400% To $60, Here’s When According to
Fiatleak, the altcoin has been displaying strong signs of an
upsurge for the past 2 days, due to growing market optimism and
recent encouraging developments in the US Securities and Exchange
Commission’s (SEC) legal battle with financial behemoth, Ripple.
During the period, the analyst stated that the token has been
fluctuating between $0.57 and $0.65, and other experts believe that
if XRP can overcome significant resistance levels, it may soar to
new all-time highs. Featured image from Adobe Stock, chart from
Tradingview.com
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