Analyst Predicts XRP Could Break Out to $6-$8 After Consolidation

Crypto analyst Cantonese Cat discussed XRP's prolonged consolidation during a June 15 livestream, suggesting it is poised for a significant upward move. Key points include:

XRP has traded sideways for over seven months, indicating potential energy buildup.
The price is close to critical Gann resistance levels, potentially leading to targets of $6 to $8 upon breakout.
Cantonese Cat highlighted a recent breakout above the monthly Ichimoku Cloud as a bullish signal.
XRP remains above key support levels like Tenkan and Kijun, which suggests strength in its trend.
A convincing break above the 0.86 Fibonacci level could trigger an all-time high scenario.
Current market stagnation is viewed as typical prelude to volatility rather than weakness.
XRP was trading at $2.20 at press time.

XRP price analysis