Rally

<p class="p2">The <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-stuck-0-5320/">XRP price has been in a 7-year accumulation zone</a> now and its failure to break out of this zone has been a constant worry for investors. However, it seems that the days of worry will soon be forgotten as one crypto analyst believes that the XRP price is about to break out of this accumulation zone.</p> 
<h2 class="p2" id="xrp-price-to-break-out-and-complete-1-200-rally">XRP Price To Break Out And Complete 1,200% Rally</h2> 
<p class="p2">In an analysis <a href="https://www.tradingview.com/chart/XRPUSD/HkUyI6fG-XRP-tries-to-breakout/" rel="nofollow">posted</a> on TradingView, crypto analyst Babenski has renewed XRP investors’ hope in the coin, predicting that it is about to break out of its drawn-out accumulation trend. According to the analyst, the altcoin is currently trying to break out of this accumulation, and could be successful this time around.</p> 
<p class="p2">The 7-year accumulation had began back in 2017 when the XRP Price had gone through a notable bull run. Naturally, this accumulation was expected to break in the next bull market which was in 2021. However, due to the United States Securities and Exchange Commission (SEC) suing Ripple in 2020, it put a damper on the price, causing the XRP price to crash while others rallied.</p> 
<p class="p2">Since then, the altcoin has maintained its position inside the accumulation range, <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-crash-80-to-0-10/">failing to break above $1 </a>even after securing a partial victory over the regulator in 2023. This accumulation has now carried into 2024, but with a bull run expected this year, it could be time for XRP to shine.</p> 
<p class="p2">Babenski’s chart shows what could happen if the XRP Price were to break out of this accumulation. The crypto analyst sees a significant rally in the price, rising more than 1,200% to touch the $6. If this happens, the XRP Price would be securing a brand new all-time high.</p> 
<h2 class="p2" id="other-analysts-see-the-same-trend">Other Analysts See The Same Trend</h2> 
<p class="p2">Babenski is not the only crypto analyst who has predicted that the <a href="https://www.newsbtc.com/analysis/xrp/28900-rally-to-154-for-xrp-price/">XRP price could be breaking out</a> of its 7-year accumulation in 2024. Crypto analyst U-Copy has also <a href="https://bitcoinist.com/xrp-7-year-long-accumulation/" rel="nofollow">pointed this out</a>, taking to X (formerly Twitter), to share the analysis.</p> 
<p class="p2">According to him, the <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-dips-0-530/">XRP price is already close to the end of its triangle formation,</a> which began in 2027. He revealed that the final gap was actually filled back at the $0.46 level, and with the price trading above $0.5 at the time of writing, a breakout could be imminent.</p> 
<p class="p2">Unlike Babenski, crypto analyst U-Copy did not give a price target for where they expect the XRP price to end up. However, the analyst does believe that something is bound to happen by December 2024. “Don’t know target price but Shit could blow up big in this Bull Cycle up to December,” U-Copy stated.</p> 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/eBDzoo8z/" alt="XRP price chart from Tradingview.com" width="3286" height="1576">

XRP Price Moves To Break Out Of 7-Year Accumulation, Analyst Highlights Possible 1,200% Rally

Table of Contents

NewsBTC

Other articles published on May 29, 2024

2024년 레드타이거 인기 슬롯 TOP7 – 지금 바로 플레이 가능한 사이트

Bitcoin Nation El Salvador Embraces AI Technology and Bitcoin to 10X GDP Over Next 5 Years Spurri...

XRP Struggles as Chainlink and Raboo Skyrocket Amid Increasing Investor Confidence

Nearly 50% of US voters want cryptocurrencies in their portfolios!

Argentina Eyes Crypto Adoption — Why You Should Invest in These 5 Crypto Coins Now Ahead of Q3

Will MoonBag getting on Coinbase Affect Shiba Inu and Floki Inu’s success?

Join our free newsletter for daily crypto updates!