đĽ Bullish Momentum Drives XRPâs 35% Weekly Surge
XRP has seen an impressive 35% price spike this week, sparking speculation about new all-time highs.Analysts observe a bullish pennant pattern on XRPâs chart, signaling a potential breakout.Rippleâs win against the SEC boosts XRPâs credibility and may attract institutional investors
XRP has remarkably surged this week, gaining an impressive 35%. Traders are now speculating whether this bullish momentum will propel XRP to new all-time highs during this market cycle. Currently, XRP is trading at $0.60 and some analysts like Dark Defender suggest the price could rally to $18 â $36 once $0.66 is breached.
đŹ And So It Began! #XRP entered the qualification mode by bouncing precisely from our last frontier, $0.3917, then surpassing $0.6044 and entering the previous triangle.
Above $0.6649, it is Magick towards $18 â $36 â Dark Defender
XRP has seen a significant price increase from its previous level of $0.43 on July 10. The surge is part of a broader rally in the crypto market, as indicated by CoinMarketCap data.
XRPâs Technical Analysis
Both analysts and investors are closely monitoring XRPâs price chart, identifying patterns that suggest a potential breakout. One key observation is the formation of a bullish pennant pattern on XRPâs chart over the past seven years.
This pattern occurs when the price consolidates within a triangle shape following a strong upward move. Santiment notes that this breakout could be one of the most significant in crypto history.
XRP has traded within a range of approximately 75% since the beginning of the year, despite volatility. The price has been oscillating between a high of $0.71 and a low of $0.41.
Some crypto analysts are confident that XRP will reach new all-time highs this cycle. The sentiment around XRP is turning bullish, with traders closely following the price action.
Meanwhile, Rippleâs win against the SEC can boost XRPâs credibility, attract institutional investors, and drive higher adoption.