Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

XRP Price Flashes Symmetrical Triangle From 2017, A Repeat Could Send It as Flying To $30

Share This Post

The XRP price may be gearing up for a historic breakout as a long-term Symmetric Triangle pattern from 2017 resurfaces on the charts. If history repeats and a similar explosive move follows, a crypto analyst predicts XRP could skyrocket to an eye-popping $30. 

XRP Price Triangle Pattern Signals Breakout Above $30

A new technical analysis by Egrag Crypto, a crypto analyst on X (formerly Twitter), has stirred excitement among​​ XRP supporters, suggesting that the digital asset may be on the brink of a historic price surge and that XRP could jump from its current market value of $2 to reach $30 soon.

While this figure may seem rather ambitious, Egrag Crypto has identified a massive Symmetrical Triangle formation on XRP’s monthly chart. Interestingly, the analyst has revealed that this pattern is strikingly similar to one that preceded XRP’s legendary 2,600% rally in the 2017 bull market. 

In the 2017-2018 bull market, XRP had surged to an all-time high of $3.84 in just months. Now, after years of tightening price action within a giant Symmetrical Triangle, the altcoin appears to be breaking out once again, and this time, the analyst predicts that the upside could be even more explosive. 

XRP

According to Egrag Crypto’s chart, if the asset mirrors its previous 2,600% triangle breakout, it could soar from the breakout zone around $1.20 to as high as $32.36. Notably, XRP’s Symmetrical Triangle formation is a classic consolidation pattern that usually results in a bullish surge in the direction of the prevailing trend. 

Currently, XRP’s all-time high is $3.84. A potential surge to $32.36 would represent a whopping 741.6% increase, propelling its price to a level far exceeding its historical peak. 

Bullish Pennants Strengthen Symmetrical Triangle Forecast

Egrag Crypto’s bullish forecast for XRP is supported by a textbook diagram comparing bullish pennants and symmetrical triangles, both of which point to double target zones once a breakout occurs. The pattern suggests that once the altcoin escapes its multi-year consolidation, the analyst’s projected rally may play out in three stages: an initial pump, followed by a retracement, and a second explosive move.  

The XRP price chart shows a lower target, around $3.52, which aligns with the 1.0 Fibonacci retracement level. This indicates that the token could see a temporary rebound to 3.52, followed by a short-term pullback to the triangle breakout point at $1.20, before ultimately bouncing toward the projected $32.36 target. 

Notably, this movement aligns with XRP’s current market structure, where it has maintained long-term support and is now showing signs of upward momentum. While historical price patterns offer insights into potential moves, the predicted rise to $32.36 is uncertain, given the magnitude of such a rise.

XRP

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bull Market Reignited? Analyst Says Bitcoin Rally Mirrors June 2020 Setup

Bitcoin’s recent surge has kept its price firmly above the $100,000 price level, reflecting ongoing investor confidence At the time of writing, BTC is trading at $103,527, posting a 43% gain in the

BlackRock CEO Larry Fink Expects Bitcoin to Hit $500K in 5–10 Years

The post BlackRock CEO Larry Fink Expects Bitcoin to Hit $500K in 5–10 Years appeared first on Coinpedia Fintech News Bitcoin’s bullish momentum continues On May 8, BTC surged 641% in a

Bitcoin Price To Hit $115K in Next 60-Days, Predicts Analyst Timothy Peterson

The post Bitcoin Price To Hit $115K in Next 60-Days, Predicts Analyst Timothy Peterson appeared first on Coinpedia Fintech News Bitcoin, the pioneer cryptocurrency, has hit a $104k, its highest price

Steak ’n Shake Goes Full Crypto — 100M Can Pay With Bitcoin Next Week

Steak ‘n Shake is unleashing bitcoin payments across all locations, unlocking crypto access for over 100 million customers and revolutionizing fast-food transactions forever Steak ‘n

Robert Kiyosaki Slams Central Bank Manipulation in the U.S. Economy

The post Robert Kiyosaki Slams Central Bank Manipulation in the US Economy appeared first on Coinpedia Fintech News The debate around economic control in the US has reached a boiling point, with

Bitcoin On The Menu: American Fastfood Chain Goes Crypto Nationwide

American fastfood chain Steak ‘n Shake will begin implementing Bitcoin payments at all of its US restaurants starting May 16 The news was announced on May 9 via a tweet on X, where the company