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<p>An ambitious long-term outlook for XRP comes from crypto trader <a href="https://twitter.com/UniverseTwenty/status/1749865653119615250" target="_blank" rel="noreferrer noopener nofollow">XRP Captain</a>, who highlights a “<em>Mega Triangle Pattern</em>” that has been forming over a multi-year timeframe. According to Captain, this triangle spans across 2312 days and points to a major breakout in the next 6-7 weeks with an upside target around $24.</p> 
<p>However, analysis by altFINS reveals a much more cautious perspective over the near term, given XRP’s current struggling technical posture:</p> 
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 <img loading="lazy" decoding="async" width="1024" height="441" src="https://captainaltcoin.com/wp-content/uploads/2024/01/image-681-1024x441.png" alt="" class="wp-image-427527" srcset="https://captainaltcoin.com/wp-content/uploads/2024/01/image-681-1024x441.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-681-300x129.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-681-766x330.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-681-1536x662.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-681-2048x882.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-681-348x150.png 348w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-681-100x43.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-681-812x350.png 812w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-681-788x339.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-681.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<blockquote class="wp-block-quote"> 
 <p><em>“Price is in a downtrend and trading in a a Channel Down pattern and broke below 200-day moving average, which is negative. We wait for price to breakout out of the Channel Down pattern to signal bullish trend reversal.”</em></p> 
</blockquote> 
<p>So while historical consolidation patterns can certainly unleash powerful moves, traders must focus on the here and now. And presently, <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank">XRP</a> remains stuck below its 200-day moving average after violating this widely-followed trend indicator. This points to ongoing pressure and downside risks as part of the developing channel.</p> 
<p>To negate the bearish near-term outlook, XRP needs to reclaim its 200-day MA around $0.60 to signal waning seller momentum. Absent that, the path of least resistance favors eventual tests of channel support around $0.45.</p>  
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<p>Now, moving above the $0.68 resistance would mark the initial steps of a bullish trend change. But for Captain’s mega triangle to come into play, XRP may need a decisive break back above the $1 level on improving momentum gauges.</p> 
<p>So in summary, doubts linger around XRP in the near term, given its technical breakdown. However, long-term historical patterns can take time to mature. Reclaiming key moving averages is needed to suggest bullish forces are returning before Captain’s ambitious $24 forecast comes into realistic view. Patience and prudence remain prudent virtues for traders amidst XRP’s ongoing struggles.</p> 
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<p>The post <a href="https://captainaltcoin.com/xrp-analyst-expects-mega-triangle-breakout-held-for-2312-days-expects-price-to-hit-24-in-this-timeframe/">XRP Analyst Expects Mega Triangle Breakout Held For 2312 Days, Expects Price To Hit $24 In This Timeframe</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

XRP Analyst Expects Mega Triangle Breakout Held For 2312 Days, Expects Price To Hit $24 In This Timeframe

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