Apr 12, 2025
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XRP Price May Surge to $30 Following Symmetrical Triangle Pattern
The XRP price may be preparing for a significant breakout as it forms a Symmetrical Triangle pattern from 2017. Analyst Egrag Crypto suggests that if historical trends repeat, XRP could rise from its current value of $2 to potentially $30.
XRP Price Analysis
- Symmetrical Triangle formation identified on XRP's monthly chart
- Similar pattern preceded a 2,600% rally in 2017
- XRP reached an all-time high of $3.84 during the 2017-2018 bull market
- Potential surge to $32.36 would indicate a 741.6% increase from current levels
Egrag Crypto's bullish forecast is supported by comparisons with bullish pennants, suggesting a multi-stage breakout process:
- Initial price pump
- Temporary retracement
- Second explosive move towards projected target
A lower target of around $3.52 aligns with the 1.0 Fibonacci retracement level. This indicates a possible rebound before a pullback to the breakout point at $1.20, ultimately aiming for the anticipated $32.36 target.
