XRP’s price is consolidating within a triangle pattern, suggesting a potential breakout by 2025.
Short-term chart shows significant XRP price volatility, with recent sharp declines highlighting market unpredictability.
Analyst Armando Pantoja cites regulatory clarity and institutional interest as key drivers for XRP’s predicted price rise.
Crypto analyst Armando Pantoja has forecasted a big rise in XRP’s price, suggesting it could reach $3.84, then $12.75, and eventually $20.30. This prediction comes as XRP continues to consolidate within a long-term triangle pattern on the price charts.
$XRP is about to explode! Mark my words: $3.84, then $12.75, then $20.30. The breakout is coming, and those who aren't ready will miss out big time. Regulatory clarity and institutional interest are on our side. #XRP #Crypto #Ripple pic.twitter.com/IrlO8HxVFT
— Armando Pantoja (@_TallGuyTycoon) July 17, 2024
Long-Term Price Chart Analysis
A detailed chart of XRP against the US Dollar on the Kraken exchange highlights key historical and projected trends from 2017 to 2025. The current price of XRP is $0.58285, showing a slight increase of 0.61%. The chart reveals a t price spike in late 2017 and early 2018, followed by a period of volatility and an overall downtrend.
Source; Armando Pantoja on X
The descending resistance line originates from the peak in 2018, while the ascending support line starts from the low in 2020. This triangle pattern indicates a consolidation phase, often a precursor to a major price movement.
The chart’s candlestick representation, with green indicating price increases and red showing decreases, provides a visual understanding of the market’s phases. Each candlestick represents three months of price action, and the triangle pattern extends into 2025, suggesting an impending breakout or breakdown.
Short-Term Price Movements
A shorter-term chart shows XRP’s price fluctuations over the last 24-48 hours. This chart highlights significant volatility, with several peaks and troughs. The price ranged between $0.59 and $0.63, with a notable downward trend towards the end of the chart. A sharp price drop to around $0.59 is particularly striking, indicating a big decrease.
Source; CoinMarketCap
This short-term chart’s time scale covers a 24-hour period and emphasizes the high volatility often seen in crypto markets.
Market Outlook
The convergence of these two charts suggests that XRP has been in a consolidation phase since its peak in 2018. As the price approaches the apex of the triangle pattern, traders are watching for a potential breakout. Armando Pantoja’s prediction of significant price jumps reflects a belief in the strength of regulatory clarity and growing institutional interest in XRP.
These observations highlight the importance of monitoring both long-term trends and short-term price movements in the crypto market. With the potential for substantial price increases, understanding these patterns can help investors make informed decisions.
Read also
What’s Next for Cryptos? Top Analyst Sets Bold Price Targets for Leading Cryptocurrencies. Are you Buying or Not?
Crypto Analysts Forecast XRP Rally: Price Predictions of $3 to $20 in Bull Season
XRP Could Surge to $20 by 2026 Says Expert Citing Historical Growth and Market Trends
Polygon Primed for a Major Rally After Triangle Breakout
Dogecoin Consolidation: Symmetrical Triangle Signals Potential Reversal
The post XRP’s Potential Surge to $20: Analyst Predicts Major Price Movements appeared first on Crypto News Land.
