2024

bullish

<ul>
 <li>Market expert “Michael XBT” has identified August as the timeline for XRP to break out from its 7-year symmetrical triangle formation.</li>
 <li>The prediction has sparked discussions and various responses from the community.</li>
 <li>Technical analysis, including increased new assets issued on the XRP Ledger and ongoing development activity.</li>
</ul>
In a recent development that has caught the attention of the <a href="https://thenewscrypto.com/?s=XRP" target="_blank" rel="noopener noreferrer nofollow">XRP </a>community, market expert “Michael XBT” has <a href="https://x.com/MichaelXBT/status/1816955867964530768" target="_blank" rel="noopener noreferrer nofollow">pinpointed </a>a specific timeline for XRP to break out from its massive 7-year symmetrical triangle formation.
This prediction has ignited a flurry of reactions and discussions among XRP enthusiasts, as they eagerly anticipate the potential implications of this significant event.
A few days ago, MichaelXBT boldly proclaimed that Ripple was on the cusp of breaking out from its giant 7-year downtrend, sparking a wave of bullish sentiment among the community.
Since then, numerous queries have arisen concerning the precise timing of the breakout, as the coin holders have endured prolonged periods of waiting for such a momentous occurrence.
<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">
 <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> Historic Breakout Incoming <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> In all my years of trading crypto I have NEVER seen a 7 year long bull pennant We might be about to witness one of the most significant breakouts in crypto history <a href="https://t.co/X4H5otlcAM" rel="noopener noreferrer nofollow">pic.twitter.com/X4H5otlcAM</a>— Crypto Michael (@MichaelXBT) <a href="https://twitter.com/MichaelXBT/status/1813386615013683613?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 17, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="h-xrp-s-unprecedented-symmetrical-triangle-pattern">XRP’s Unprecedented Symmetrical Triangle Pattern</h2>
In a post dated July 17, MichaelXBT emphasized the uniqueness of the 7-year symmetrical triangle pattern observed in XRP’s chart, stating that it is unparalleled in the crypto market based on his observation.
This bullish formation typically follows a period of consolidation after an initial price surge, indicating the potential for resumed upward movement.
For XRP, this formation commenced after the token reached its peak of $3.84 in January 2018 and has persisted since then.
MichaelXBT’s prediction of an August breakout from XRP’s 7-year symmetrical triangle pattern has elicited a diverse range of responses from the community.
Some users have humorously noted the long-term nature of XRP’s potential breakout, highlighting how no one else has ever accurately predicted the timing of such an event.
Amidst the doubts surrounding the timeline, Michael has clarified that XRP is approaching the critical point of this formation, and a breakout must occur within the coming weeks.
Meanwhile, others have speculated that external factors, such as the resolution of ongoing legal issues, could have an impact on the timing of the breakout.

Market Expert Predicts XRP to Break 7-Year Symmetrical Triangle in August

Indice dei contenuti

TheNewsCrypto

Altri articoli pubblicati su 29 lug 2024

Is Bitcoin Still the Most Commonly Exploited Cryptocurrency by Criminals?

South Korea's New Crypto Law Takes Effect: What We Know

Bitvium Launches New Fiat On-Ramp, Revolutionizing Cryptocurrency Transactions with Innovative Fe...

Tom Lee Predicts Bitcoin’s Future Performance

Citron crypto-skeptic Andrew Left to face fraud charges

Chainlink Join Hands With Wenia to Boost Transparency of Colombian Peso-Backed Stablecoin

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!