Analyst Projects XRP Price Target of $12.60 Following Triangle Breakout
An analyst has identified a significant breakout in XRP's price from a multi-year triangle pattern. This could indicate a bullish target for the asset.
XRP Breakout Analysis
- The triangle pattern formed over several years shows XRP trading between converging trendlines.
- Breaking above the upper trendline signals a bullish continuation, while falling below indicates bearish potential.
- The symmetrical triangle observed suggests an equal probability of price movement in either direction, though it had a slight upward bias.
- XRP broke past this upper boundary in November 2024, initiating a bull rally.
- The projected price target after this breakout is $12.60, implying a potential increase of about 287% from current levels.
XRP Current Price
XRP recently recovered to $3.37 but has retraced to $3.25.