Technical analysis suggests XRP could break out and reach a new all-time high, potentially exceeding $200.
XRP’s price action shows a descending triangle pattern, similar to one that preceded a major surge in 2017-2018.
XRP’s market performance and technical indicators like MACD and RSI support the bullish outlook.
XRP is attracting attention due to its bullish technical indicators and strong market performance. Crypto analyst JavonTM believes XRP could surpass its previous all-time high of $3.30. This would represent a 300% gain from current levels. This prediction is based on long-term technical patterns and increasing trading activity, which suggest a potential breakout.
Technical analysis reveals a descending triangle pattern in XRP’s price action over 221 bars (approximately 2,660 days). This extended consolidation phase resembles a smaller triangle pattern observed earlier in XRP’s price history.
The smaller triangle, which lasted 102 bars, concluded with a sharp breakout, suggesting the potential for a similar upward trend in the larger formation.
A “fake breakdown” occurred near the end of the current pattern, indicating a shak…
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