XRP is at a pivotal point, signaling a potential major price shift according to Tony Edward, Founder of ThinkCryptoPod. Analyst CrediBULL Crypto observed XRP has been consolidating within a symmetrical triangle formation on its long-term chart for nearly seven years.
XRP's Triangle Formation
This pattern, characterized by tightening price movements, hints at an impending significant breakout. The bullish potential is palpable, as this consolidation phase could soon lead to a dramatic shift in XRP’s price trajectory.
Key Resistance Levels
Key resistance at $0.80 could trigger an XRP surge to $1.30 or higher. On the weekly chart, levels around $0.65 are also seen as pivotal resistance points.
Long-term Analysis
On the monthly chart, XRP’s price action has been confined within a triangle, showcasing periods of lower highs and higher lows. This pattern is not just a sign of consolidation but a precursor to a major price movement.
XRP might be on the verge of significant growth. Analysts are closely watching the price movements in the coming weeks and months to confirm the anticipated breakout.
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