Gemini

Based

April

<div class="watcher-guru">
 <p>XRP, the native cryptocurrency of the Ripple payment network, has faced challenges sustaining any significant price momentum over the past year. After hitting a peak of $1.96 in April 2021, XRP has since retreated 84.5% from its all-time high and currently trades around $0.5254.</p>
 <p>The recent underperformance comes amid Ripple’s high-profile legal battle with the Securities and Exchange Commission (SEC). The legal battle was over whether XRP should be classified as a security. The dispute has led to the delisting of XRP from major cryptocurrency exchanges and selling pressure from former investors.</p>
 <p><strong>Also read: Gemini Unveils Plans to Launch XRP Perpetual Contracts</strong></p>
 <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828227"></div>
  </div>
 </div>
 <p>However, despite the ongoing headwinds, some analysts remain optimistic about the coin’s long-term growth potential. Seasoned market observer Crypto Rover sees a breakout on the horizon based on XRP’s price action over the past year.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">$XRP<br><br>A massive breakout will happen in the upcoming 8-10 weeks… pic.twitter.com/BgIJrKC9ba</p>— Crypto Rover (@rovercrc) January 20, 2024
   </blockquote>
  </div>
 </figure>
 <h2 class="wp-block-heading" id="h-the-symmetrical-triangle-suggests-an-impending-breakout-for-xrp">The symmetrical triangle suggests an impending breakout for XRP</h2>
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div id="primisContainer" class="add"></div>
 </div>
 <p>Crypto Rover notes that XRP has attempted to break out upwards from this triangle formation multiple times over the past several months. However, has failed to sustain any upside momentum.</p>
 <p>However, the ongoing convergence of the triangle’s trendlines suggests that XRP is gearing up for a sustained rally out of this multi-month consolidation range. Based on historical instances of similar chart patterns, Crypto Rover speculates this breakout could occur within the next 8–10 weeks, pointing to a potential liftoff in mid–to–late March.</p>
 <p><strong>Also read: Dogecoin: How High Can DOGE Go After X Payment Integration?</strong></p>
 <p>Ultimately, while optimism persists, uncertainty still looms over the coin’s future trajectory. Crypto Rover himself declined to provide specific price targets. He only notes that traders should closely monitor developments over the next two months.</p>
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828233"></div>
  </div>
 </div>
 <p>If XRP can finally garner sustainable buying volume to crack multi-month resistance, the considerable upside could quickly materialize. Until then, caution is still warranted despite growing hope of a long-awaited trend reversal.</p>
</div>
<div class="cs-entry__tags">
 <ul>
  <li>ripple xrp</li>
  <li>xrp</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ripple-xrp-is-poised-for-a-massive-breakout-here-s-when-tbt77489.html">https://thebittimes.com/ripple-xrp-is-poised-for-a-massive-breakout-here-s-when-tbt77489.html</a></p>

Ripple (XRP) Is Poised For A Massive Breakout; Here's When

Table of Contents

TheBitTimes

Other articles published on Jan 23, 2024

Mapping Ethereum’s predictions as price nears $2.3K support level

Terra Classic (LUNC) Faces Market Turmoil Amidst Massive Sell-Off

ONDO Project Team Faces Heat for Tanking Token After Suspected Dump

Spot Bitcoin ETFs Unlikely to Trigger a Bull Market, Says Lyn Alden

Spot Bitcoin ETFs amass over 100,000 BTC as Bitcoin price drops under $39,000

Google Bard predicts how low Bitcoin might drop after losing $40k support

Join our free newsletter for daily crypto updates!