XRP Price Ready to See Strong Move; What Are Analysts Thinking?

Popular cryptocurrency analyst CryptoWolf recently observed that the altcoin is potentially forming an “ascending triangle bottom,” marked by a series of higher highs, a horizontal upper resistance, and tightening price action that implies a breakout to the upside will take place once the triangle nears its apex. The assertion that XRP is forming an ascending triangle has been corroborated by CryptoSlate contributor Senor Satoshi, who also recently noted that the cryptocurrency is forming the positive price pattern on the medium-term chart.

He noted that a break above the upper boundary of the triangle will result in a 13% surge, which will push prices back to where they were prior to the most recent drop. The cryptocurrency has purportedly broken the support of a long-term descending triangle and a long-term uptrend, implying a potential return to $0.05 — 80% lower than current prices — over the coming months.

Timeline of Xrp