- Analysts predict XRP may be nearing a breakout, driven by key technical patterns.
- XRP experts believe crossing a critical resistance could trigger a bullish reversal.
- A symmetrical triangle indicates that XRP may soon enter a critical phase for price action.
XRP has been receiving attention on the X platform as analysts draw features that indicate the possibility of a breakout. Egrag Crypto, an analyst, noted that it is high time to revisit his analysis from January.
His latest post warned investors that XRP is ready for a bullish run, considering $0.75 is a very important price level. The analyst continued, saying that overcoming this level on the weekly timeframe may mark a severe bull market and support for the crypto.
#XRP The White Flame ⚪️(UPDATE):
— EGRAG CRYPTO (@egragcrypto) September 14, 2024
For better clarity, revisit the January 20th, 2024 post where the White Flame range was tapped: Link: https://t.co/G7l9oBMEqQ
What's next? Simple—#XRP has only one direction, and that’s UP 🚀.
These levels—Structural Formation, Sentiment… https://t.co/HjSKvTamlw pic.twitter.com/QWANNMW4FH
The Critical $0.75 Level for XRP
The analyst pointed out that XRP has some of its price movements, showing that it may begin to explode. According to Egrag, a single daily candle could break out of key resistance levels, increasing the possibility of further gains. This price target will act as a guide for those trading into XRP and who have a favorable outlook on its long-term prospects.
XRP Eyes $0.6500 as Analyst Highlights Key Resistance BreakBullish Reversal can be Achieved
Another analyst, XRP Captain, provided more insights about the XRP symmetrical triangle. In his analysis, XRP Captain stated that when using the current pattern, there is a tendency for a bullish reversal. That would happen if XRP looked at crossing the upper resistance line, and if it happened, it may surge to $1.50.
#XRPHolders 🚨🚨 #XRP Historic Breakout In 7 Days. 💥💥🚀🚀🚀 pic.twitter.com/bio8Suc8Hz
— XRP CAPTAIN (@UniverseTwenty) September 13, 2024
Both analysts are in unison that XRP is heading towards a critical point. The future of XRP in the short term will definitely be defined by the next price action. For the bullish traders, structural and psychological zones are the zones where Egrag Crypto and XRP Captain recommend active trading. Also, looking at the XRP Captain’s chart, the marked symmetrical triangle indicates that the price of the cryptocurrency is likely to breakout soon.
