XRP Monthly Chart Hints at Explosive Move Toward $7–$8
- XRP is trading around $2.81 while forming a bullish cup pattern on the monthly chart.
- A clean breakout above $3 resistance could open targets at $4.50 and possibly $7–$8.
- Strong base-building, Ripple’s real-world utility, and past explosive rallies all support the bullish case.
XRP is sitting in a pretty interesting spot right now, and traders are watching closely. At around $2.81, the token hasn’t been making too much noise, but the monthly chart is quietly shaping up into what looks like a classic bullish pattern. The kind that makes people wonder if we’re about to see XRP shake off its long consolidation and start running again.
Traders Eye a Big Breakout
Plenty of seasoned analysts have chimed in on this setup. One of them, @CryptoBull2020, pointed to the monthly XRP chart and suggested that the next leg up could easily land somewhere in the $7 to $8 range. Sounds ambitious, but it isn’t coming out of thin air. The analysis points to a technical structure that’s often been the precursor to massive rallies in the past.
The Cup Pattern Taking Shape
If you zoom out, XRP’s chart looks like it’s been sketching a cup-like formation for months. This kind of pattern tends to show up when an asset consolidates after a big move, storing up energy before blasting higher. Right now, the first big obstacle sits around the $3 mark. Clearing that level could unlock a quick move toward $4.50 and possibly even open the door to the $7–$8 zone people are buzzing about.
Another bullish check mark is XRP’s position above its 200-day moving average. That’s usually a sign that the bigger trend is still intact, even when short-term moves look choppy.
Why $7–$8 Might Not Be Crazy
There are a few reasons why this target doesn’t sound as wild as it might at first. For one, XRP has spent months building a base. The longer a token consolidates, the more violent the eventual breakout can be. Then there’s the fact that XRP isn’t just speculation—it has Ripple’s network of payment partners and banks giving it some real-world backing. Add to that XRP’s history of explosive rallies once resistance levels give way, and suddenly $7–$8 doesn’t look so far-fetched.
The Bottom Line
XRP’s setup is one of the cleaner ones on the monthly charts right now. With the cup pattern almost filled out and strong support holding underneath, all eyes are on that $3 resistance. Break above it with conviction, and XRP could rip higher fast, possibly surprising even the bulls with how quickly it makes a run at $7 or beyond.
The post XRP Monthly Chart Hints at Explosive Move Toward $7–$8 first appeared on BlockNews.
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XRP Monthly Chart Hints at Explosive Move Toward $7–$8
- XRP is trading around $2.81 while forming a bullish cup pattern on the monthly chart.
- A clean breakout above $3 resistance could open targets at $4.50 and possibly $7–$8.
- Strong base-building, Ripple’s real-world utility, and past explosive rallies all support the bullish case.
XRP is sitting in a pretty interesting spot right now, and traders are watching closely. At around $2.81, the token hasn’t been making too much noise, but the monthly chart is quietly shaping up into what looks like a classic bullish pattern. The kind that makes people wonder if we’re about to see XRP shake off its long consolidation and start running again.
Traders Eye a Big Breakout
Plenty of seasoned analysts have chimed in on this setup. One of them, @CryptoBull2020, pointed to the monthly XRP chart and suggested that the next leg up could easily land somewhere in the $7 to $8 range. Sounds ambitious, but it isn’t coming out of thin air. The analysis points to a technical structure that’s often been the precursor to massive rallies in the past.
The Cup Pattern Taking Shape
If you zoom out, XRP’s chart looks like it’s been sketching a cup-like formation for months. This kind of pattern tends to show up when an asset consolidates after a big move, storing up energy before blasting higher. Right now, the first big obstacle sits around the $3 mark. Clearing that level could unlock a quick move toward $4.50 and possibly even open the door to the $7–$8 zone people are buzzing about.
Another bullish check mark is XRP’s position above its 200-day moving average. That’s usually a sign that the bigger trend is still intact, even when short-term moves look choppy.
Why $7–$8 Might Not Be Crazy
There are a few reasons why this target doesn’t sound as wild as it might at first. For one, XRP has spent months building a base. The longer a token consolidates, the more violent the eventual breakout can be. Then there’s the fact that XRP isn’t just speculation—it has Ripple’s network of payment partners and banks giving it some real-world backing. Add to that XRP’s history of explosive rallies once resistance levels give way, and suddenly $7–$8 doesn’t look so far-fetched.
The Bottom Line
XRP’s setup is one of the cleaner ones on the monthly charts right now. With the cup pattern almost filled out and strong support holding underneath, all eyes are on that $3 resistance. Break above it with conviction, and XRP could rip higher fast, possibly surprising even the bulls with how quickly it makes a run at $7 or beyond.
The post XRP Monthly Chart Hints at Explosive Move Toward $7–$8 first appeared on BlockNews.
Read More