XRP price breaks through 6-year triangle pattern, but is it possible to rebound to $1?
Since the end of July, XRP price has been like a roller coaster, fluctuating constantly, which is closely related to the news of a possible settlement between the U.S. Securities and Exchange Commission (SEC) and Ripple. As soon as the news came out, XRP price soared, jumping from $0.599 to $0.655 in a few hours. Although there was a slight correction afterwards, this wave of growth showed the potential of XRP and the enthusiasm of investors.
A big analyst in the cryptocurrency industry said that XRP is now like standing at the door of a symmetrical triangle, waiting for the final kick to break out. This triangle is where XRP has been spinning in the past six years, from the peak of $3.4 in 2018 to the bottom of $0.11 in 2020, and then it has been drawing this triangle in ups and downs.
This symmetrical triangle is usually where the price takes a breather before a big move. XRP took a long time to rest, and it was delayed by the legal dispute with the SEC. But now it seems that the dispute is about to be resolved, and the spring of XRP is coming soon.
Analysts said that if XRP really breaks out of this triangle, it will be a bullish scene, especially if it passes the $0.9 mark, it will be a signal flare for the bull market to take off. He directly said: "Once XRP passes $0.9, the rise will be unstoppable!"
Look at it now, XRP is getting closer and closer to the small goal of $0.9, and everyone's expectations for XRP are getting higher and higher. On-chain data also shows that the number of big guys holding a lot of XRP (we call them "shark" and "whale" wallets) is soaring, which shows that everyone is hoarding and waiting for the rise. Looking at this situation, XRP's road to $1 is just around the corner!
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