This Triangle Pattern Triggered In 2021 Suggests XRP Price Will Surge 5,000% To $32

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,253,675,560,433	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,253,675,560,433

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	530.60	0.84%	63,861.17	63,861.16	63,861.17

Price Change

Price Change %

Current Price

Bid Price

Offer

530.60

0.84%

63,861.17

63,861.16

63,861.17

High Price	Low Price	Open Price	Prev. Close	52 Week Range
64,106.75	62,985.00	63,330.57	63,330.57	26,521.32 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

64,106.75

62,985.00

63,330.57

26,521.32 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	11:01:09	0.000361	63,861.17	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

11:01:09

0.000361

63,861.17

USD

Price x Volume	Volume	Base Symbol	Related Pairs
66,072,712.97	1,035.68	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

66,072,712.97

1,035.68

This Triangle Pattern Triggered In 2021 Suggests XRP Price Will Surge 5,000% To $32

23/08/2024 7:00am

NEWSBTC

The XRP price is trading around the psychological barrier of $0.60 after breaking through earlier in the week. Notably, XRP has exhibited interesting price action amidst wider market uncertainty, although many cryptocurrencies are starting to turn positive. While some market participants are still bearish on XRP, others are looking out for a very bullish trajectory. A crypto analyst has revealed an XRP technical analysis that many bullish proponents can resonate with. According to the analyst, XRP is set to surge to $32 in the coming months. XRP Price Surge Of Epic Proportions Despite the broader volatility, many cryptocurrencies have begun to show signs of recovery, with XRP also a focal point of interest. The XRP analysis in question was posted through the social media platform X by Tylie Eric. This analysis was accompanied by an XRP / U.S. Dollar price chart on the 1D candlestick timeframe. As such, the price chart shows XRP’s price action as far back as late 2020. Central to the analysis is the depiction of a symmetrical triangle pattern, which has been gradually forming since early 2021, when XRP reached a peak trading value of $1.96. Related Reading: Historical Data Suggests Bitcoin Could Rise 1,000%, Here’s Why Over the years, XRP has displayed a series of lower highs and higher lows, which have progressively tightened into a narrower trading range. This pattern is often regarded by technical analysts as a sign of a potential breakout, where the price could move significantly in either direction once there is a breakout. #XRP WELCOME TO MONDAY. I’m a visual individual. Let this chart rekindle the spark. pic.twitter.com/xZXe4cpou1 — Tylie E (@TylieEric) August 19, 2024 Recent price action now puts the XRP price trading at the upper trendline of the triangular pattern. A breakout to the upside would cement a bullish rally for the cryptocurrency. According to the price target noted by Tyler, this breakout could see XRP initially surging to its current all-time high of $3.5 before facing resistance. However, the sheer nature of the bullish breakout would see XRP quickly clearing this resistance and going as high as $32. His timeline for this happening is between now and the end of the year. This projection, if realized, would represent a substantial 5,230% increase from the current price of XRP. What’s Next For XRP? Market sentiment around XRP is currently mixed. Tylie Eric’s forecast is particularly bold, predicting that the XRP price could climb as high as $32 by the end of the year. While surges of such proportions are not new to the crypto XRP, the chances of such an XRP surge happening are very slim at the moment. However, XRP has seen several other bullish predictions of a similar nature in recent weeks, particularly in the wake of the conclusion of the Ripple-SEC lawsuit. Related Reading: Glassnode Report Reveals Why The Bitcoin Price Dropped Below $50,000 On the other hand, a segment of the market remains bearish on XRP. One analyst recently even went so far as calling XRP the “biggest scam in crypto.” At the time of writing, XRP is trading at $0.6008 and is only on a 1.29% gain in a 30-day timeframe. Featured image created with Dall.E, chart from Tradingview.com

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