Crypto market continues its slow and steady sideways pace.
Analysts observe bullish signs printing on many altcoin price charts.
XRP seems to be building up to a significant price spike in the coming months.
As the crypto market moves in a steady sideways pace, the price of Bitcoin (BTC) has dipped towards the $55,000 region. Many expect Bitcoin and altcoins to slowly move towards bullish directions in the coming months.
In particular, seasoned analysts and traders have already begun to find that some altcoins are printing bullish signs. Thus, taking a closer look at these altcoins’ price charts, analysts are setting new expectations in altcoin prices for the coming months.
To highlight, one crypto chart enthusiast shares a big observation for Ripple’s XRP. Specifically, he says that XRP is one day away from fulfilling a falling wedge pattern that has taken over 6 years and 7 months to form.
#XRP is one day away from fulfilling this wedge that has taken just over 6 years and 7 months!!!PLACE YOUR BETS pic.twitter.com/1bSylcvi16
— BLOCK BULL (@TheBlockBull) July 7, 2024
According to this observation, the final day should complete the falling wedge pattern. Having taken years to form this pattern, it is expected that an explosive price surge will follow for XRP once this formation is complete.
Responses to the post above and the analysts observations are all quite bullish and encouraging. In fact, many agree with his expectations and believe green lines will arrive for XRP soon, all moving towards the upside.
Similarly, another analyst shares his expectations for XRP price as well. He goes on to share XRP’s next move as he sees it, which is that primary waves on the chart are complete and is leading towards a leading diagonal building up to a third wave.
XRP – Next movesChart –From the low ( Bottom centre ) Primary waves 1 and 2 completeWithin Primary wave 1 was Intermediate waves ABC as a leading diagonalPrimary wave 2 was a complex Intermediate WXY double zigzag and now looks completeWorking on Primary wave 3… https://t.co/iyXjj0FU2G pic.twitter.com/DyvWva6xpM
— Paul Webborn (@PWebborn) July 7, 2024
He concludes by setting up two targets for XRP which are $1,43 to $2.08. This is indeed a bullish sign for XRP price and the analyst commends the patience that XRP traders have to finally make their gains from this asset.
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The post XRP Analyst Expects Over 340% Surge as XRP Nears Completion of Massive Wedge Pattern Over 6 Years appeared first on Crypto News Land.
