XRP Nears 6-Year Symmetrical Triangle Pattern; Here Are the Price Targets

Esteemed crypto analyst EGRAG recently shared a significant revelation about the future of XRP. Brace yourself, as the digital asset is on the verge of breaking free from a Symmetrical Triangle pattern that has been developing over the past six years.

According to EGRAG, a respected figure in the crypto world, XRP could potentially experience a notable surge in value, ranging between a promising $6 and an impressive $22.

XRP’s Historical Pattern

Let’s rewind to January 2018, where XRP’s journey within a symmetrical triangle commenced. Following the remarkable rally in 2017 that saw XRP reach an all-time high of $3.31, a subsequent market correction shaped the upper trendline of the symmetrical triangle. Fast forward six years, and XRP has been adhering to a pattern of lower highs and higher lows within this intricate structure.

However, a subsequent market correction led to the formation of the upper trendline of this symmetrical triangle. Over the past six years, XRP has experienced lower highs and higher lows, remaining confined within this pattern

In April 2021, XRP made its first attempt to break out, reaching a high of $1.96. Unfortunately, lacking support from the broader crypto market, XRP couldn’t breach the upper trendline, resulting in a significant price drop. 

Also Read: How Was the XRP Price Impacted by the SEC Lawsuit? Bill Morgan Speaks Out

EGRAG’s Exciting Projections

Now, EGRAG outlines a compelling vision of XRP’s near future. As the crypto expert predicts an imminent breakout, XRP could potentially reach $6.4 or even aim for $22.3, contingent upon the timing of the breakout.

EGRAG introduces an ambitious scenario: a January 2024 breakout propelling XRP to $6.4. Brace for impact, as this trajectory requires a substantial 923% surge from its current value. It’s a bold move, promising significant rewards for those willing to navigate the journey.

However, EGRAG presents an even more audacious target – a breakout in July 2024, leading to a $22.3 price. This scenario implies a staggering 3,466% increase from XRP’s current value.

The January Advantage

Amidst these ambitious forecasts, EGRAG provides a grounded analysis. Bullish indicators suggest a potential earlier breakout, particularly in January 2024. The Relative Strength Index (RSI) in the 3-month timeframe indicates a growing uptrend, while remaining within neutral territories. XRP’s immediate resistance at $0.6881 aligns with Fib. 1.618.

Read More: XRP Price Remains Stable Amid Market Correction: New ATH Soon?

As XRP stands on the brink of a potential breakthrough, the cryptocurrency market anticipates the unfolding of EGRAG’s predictions. With EGRAG being a trusted voice in the crypto space, the question lingers: Will XRP defy expectations and ascend to unprecedented heights? We’ll have to wait and see.