Jan 13, 2025
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XRP Price Breaks Out of Symmetrical Triangle, Target Set at $8
A crypto analyst has identified a bullish target for XRP, projecting a price increase to $8 following a breakout from a Symmetrical Triangle pattern. Key points include:
- The breakout suggests upward momentum for XRP.
- Current support level is at $2.21, which reinforces its bullish outlook.
- XRP is retesting resistance at $2.35, necessary for the next price surge.
- Resistance points are identified at $4, $6, and $7, based on Fibonacci extension levels.
- The target of $8 represents a 1,500% increase from the breakout point.
- Historical data shows previous ATHs above $3.32, with a peak of $3.84 in 2018.
- Potential pullbacks of 10%, 20%, or 30% may occur during the rise towards $8.
- XRP is currently trading at $2.45, requiring a 233% increase to reach the projected ATH.
