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The highest value of XRP caused a huge uproar in the crypto market, where the cryptocurrency faced a significant price increase and broke out of important resistance levels. Driven by its recent bullish momentum, XRP has been successful breaking the main bullish patternas a result, the crypto analyst predicted that it might jump 4X to a new high of $2.6.
XRP Price Set Sights on Mid-Term Target at $2.3
After confronting slow growth and bearish momentum Over the past few weeks, XRP has sparked renewed investor confidence with its recent price surge. In the last seven days, XRP has increased by 8.93% and is showing signs of further gains in the future.
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This great look was shared by prominent crypto analyst, Captain Faibik, who revealed on X (formerly Twitter) posted on September 28, that XRP has just broken a unique bullish pattern, which shows a which is likely to have a large price meeting.
In Faibik’s XRP price chart, a multi-year bullish valuation pattern can be seen. This triangle pattern started forming in October 2021 and extended until September 2024, with XRP is experiencing high price volatility all this time.
After experiencing the initial price increase in a few weeks, XRP has been successful this bullish triangle pattern emerged. The extent of the recent price increase of XRP is reflected in the data of CoinMarketCap, which shows that the cryptocurrency has jumped by 4.73% in the last 24 hours.
This significant price increase suggests that XRP may be aiming to go higher than before levels of integration about $0.5. As of writing, XRP is trading at $0.64, underscoring the possible increase in investor interest and demand for the cryptocurrency.
By breaking out of this bullish triangle pattern, Faibik believes that XRP could be on the way to a major rally that would push its value by 4X. The analyst announced that XRP is currently hot for a major breakout from the mid-term target at $2.3.
XRP Breaks Key Trendline
Crypto analyst with Elliott Wave, identified as ‘XForceGlobal’ on X has highlighted unique trendline on the XRP price chart. According to the analyst, XRP has recently broken the “multilayer BD trendline,’ and may be headed for a price increase.
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XForceGlobal suggested that if XRP can maintain the value above this line for a few more weeks, it may witness a price increase between $7 to $10. The analyst expressed confidence in his bullish forecastindicating that expansion within this range was inevitable if the right conditions were met.
To be more precise, the analyst predicts with a detailed chart that The highest value of XRP could go up to $8.67, marking a 1,482% increase from its current price of $0.6.
The featured image was created with Dall.E, a chart from Tradingview.com