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

Name	Symbol	Market	Market Cap ($)	Algorithm
Ripple	XRPUSD	Crypto	25,762,570,207	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ripple

XRPUSD

Crypto

25,762,570,207

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0003	0.06%	0.4722	0.4722	0.4723

Price Change

Price Change %

Current Price

Bid Price

Offer

0.0003

0.06%

0.4722

0.4723

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.4747	0.4694	0.4719	0.4719	0.399480 - 0.950000

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.4747

0.4694

0.4719

0.399480 - 0.950000

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	14:29:59	4,162.14	0.4722	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

14:29:59

4,162.14

0.4722

USD

Price x Volume	Volume	Base Symbol	Related Pairs
5,532,620.16	11,722,573.30	XRP	XRPEUR	XRPGBP	XRPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

5,532,620.16

11,722,573.30

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

29/05/2024 2:00am

NEWSBTC

The XRP price has been in a 7-year accumulation zone 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. XRP Price To Break Out And Complete 1,200% Rally In an analysis posted 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. Related Reading: Kickstarting The Bitcoin Bull Run: Expert Says $70,000 Is The Level To Beat 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. Since then, the altcoin has maintained its position inside the accumulation range, failing to break above $1 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. 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. Other Analysts See The Same Trend Babenski is not the only crypto analyst who has predicted that the XRP price could be breaking out of its 7-year accumulation in 2024. Crypto analyst U-Copy has also pointed this out, taking to X (formerly Twitter), to share the analysis. Related Reading: Dogecoin Poised For 700% Explosion To $1.17 Amid Recovery In Major Metrics According to him, the XRP price is already close to the end of its triangle formation, 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. 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. Featured image created with Dall.E, chart from Tradingview.com

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XRPUSD Ripple