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<p>The post <a href="https://coinpedia.org/news/xrp-might-hit-this-price-level-if-it-breaks-out-6-year-a-symmetrical-triangle/" rel="noopener noreferrer nofollow">XRP Might Hit This Price Level If It Breaks Out 6-Year a Symmetrical Triangle</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Renowned crypto analyst EGRAG has given important information about XRP. He says that XRP is about to break out a Symmetrical Triangle pattern that has been forming for six years. Depending on when this occurs, the analyst suggests XRP could see a substantial price increase, reaching up $6 to $22.</p>
<h2 class="wp-block-heading" id="h-xrp-breaking-6-year-symmetrical-triangle">XRP Breaking 6-Year Symmetrical Triangle</h2>
<p>XRP, a digital asset with a rich history, is <a href="https://twitter.com/egragcrypto/status/1734832267120263446" rel="noopener noreferrer nofollow">currently trapped</a> within a symmetrical triangle that began forming in January 2018. This triangle originated from the aftermath of XRP’s impressive rally in 2017, where it reached an all-time high of $3.31.&nbsp;</p>
<p>However, a subsequent market correction led to the formation of the upper trendline of this symmetrical triangle. Over the past six years, XRP has experienced lower highs and higher lows, remaining confined within this pattern</p>
<p>In April 2021, XRP made its first attempt to break out, reaching a <a href="https://coinpedia.org/price-analysis/ripple-rises-again-how-xrp-price-is-heading-towards-1/" rel="noopener noreferrer nofollow">high of $1.96</a>. Unfortunately, lacking support from the broader crypto market, XRP couldn’t breach the upper trendline, resulting in a significant price drop.&nbsp;</p>
<p>Now, as the crypto asset approaches the peak of the symmetrical triangle, analyst EGRAG suggests potential price targets of $6.4 or even $22.3, possible upon when the breakout occurs.</p>
<h2 class="wp-block-heading" id="h-egrag-ambitious-targets">EGRAG Ambitious Targets</h2>
<p>EGRAG presents two ambitious targets, mapping out future trajectories for XRP’s price and market dynamics. The earlier breakout, expected in January 2024, could propel XRP to $6.4. This ambitious goal requires a surge of 923% from its current value.&nbsp;</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> Blue or Green Route ( Jan Or July 2024):<br><br>The positive indicators on various charts that was shared previously, makes me favor the Blue Route. January 2024 might just be the moment when things really start moving!<br><br>But I'm also in the camp that the Green Route and its target… <a href="https://t.co/MKN5LNI9QG" rel="noopener noreferrer nofollow">pic.twitter.com/MKN5LNI9QG</a></p>— EGRAG CRYPTO (@egragcrypto) <a href="https://twitter.com/egragcrypto/status/1734832267120263446?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 13, 2023</a>
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<p>However, EGRAG presents an even more audacious target – a breakout in July 2024, leading to a $22.3 price. This scenario implies a staggering 3,466% increase from XRP’s current value.</p>
<p>Despite the ambitious targets, EGRAG notes that current bullish indicators point towards an earlier breakout, favoring the January 2024 scenario. The Relative Strength Index (RSI) in the 3-month timeframe shows a growing uptrend but remains within neutral territories. XRP’s immediate resistance is at $0.6881, aligning with Fib. 1.618.</p>
<p>As XRP stands on the cusp of a potential breakthrough, the cryptocurrency market awaits the unfolding of these predictions.</p>

XRP Might Hit This Price Level If It Breaks Out 6-Year a Symmetrical Triangle

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