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Ripple-affiliated cryptocurrency XRP <a href="https://twitter.com/TechCharts/status/1720056535164874797" rel="noopener noreferrer nofollow">appears to be forming</a> a significant bullish chart pattern, suggesting a potential rise to $0.69.
Analysts and traders are closely watching this development as the ascending triangle observed on the XRP/USD price chart could signal renewed buying interest and momentum.
<h2 id="targeting-0-69-level">Targeting $0.69 level&nbsp;</h2>
The XRP/USD daily price chart, as highlighted by Aksel Kibar, founder of TechCharts, indicates the formation of a two-month-long ascending triangle.&nbsp;
This pattern is characterized by a flat upper trendline and an upward-sloping lower trendline, suggesting a consolidation phase where sellers are gradually overtaken by buyers.&nbsp;
Historically, an ascending triangle is viewed as a bullish pattern, often leading to a breakout above the upper trendline.&nbsp;
If <a href="https://u.today/xrp-20-surge-puts-asset-in-dangerous-position" rel="noopener noreferrer nofollow">XRP</a> manages to surpass the $0.56 resistance level, there is potential for the cryptocurrency to reach the $0.69 target (as projected by the chart).&nbsp;
<blockquote>
 <a href="https://twitter.com/search?q=%24XRPUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRPUSD</a> from the latest special <a href="https://twitter.com/hashtag/cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#cryptocurrency</a> report. <a href="https://t.co/dRj0WxCg3n" rel="noopener noreferrer nofollow">https://t.co/dRj0WxCg3n</a> <a href="https://t.co/Aq39fgf9np" rel="noopener noreferrer nofollow">pic.twitter.com/Aq39fgf9np</a>— Aksel Kibar, CMT (@TechCharts) <a href="https://twitter.com/TechCharts/status/1720056535164874797?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 2, 2023</a>
</blockquote>
It шs worth noting that while this pattern has a <a href="https://u.today/top-trader-henrik-zeberg-unveils-bullish-bitcoin-btc-signal-with-crucial-caution" rel="noopener noreferrer nofollow">bullish</a> undertone, it шs essential for investors to exercise caution and ensure other technical and fundamental indicators align with this potential breakout.
<h2 id="xrp-s-recent-recovery">XRP's recent recovery&nbsp;</h2>
According to recent <a href="https://www.coingecko.com/en/coins/xrp" rel="noopener noreferrer nofollow">data</a> from CoinGecko, XRP is currently trading at approximately $0.611866, witnessing a slight increase of 1.5% in its value.&nbsp;
The token has been fluctuating within a 24-hour range of $0.59 to $0.62. XRP's market capitalization stands robust at $32.8 billion.&nbsp;
Data from Santiment indicates a rise in XRP's price along with increased <a href="https://u.today/as-xrp-price-recovers-whale-activity-and-wallet-holdings-surge" rel="noopener noreferrer nofollow">whale activity</a>. There is also a notable increase in wallet holdings, signaling potential investor confidence or strategic positioning.

XRP Forms Major Bullish Pattern That Could Push Price to $0.69

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