XRP Forms Symmetrical Triangle with Potential Breakout Target of $6

XRP is showing potential for a breakout as it forms a symmetrical triangle pattern on its price chart. Key points include:

XRP's price has been consolidating within converging trend lines, indicating momentum buildup.
Technical analysis suggests a breakout could target $6 in the short term.
The triangle formation indicates a likely sharp price movement as it nears the apex.
Fibonacci retracement identifies $2.04 as support and $2.2 as resistance; breaking above $2.2 may lead to a rise toward $5 to $8.
The Elliott Wave framework shows an optimistic five-wave pattern supporting the bullish outlook.
A U.S. House crypto hearing scheduled for April 9 could influence interest in XRP and other tokens like Cardano’s ADA.

This technical and regulatory backdrop suggests increasing optimism within the crypto market.