XRP Eyes Major Breakout: Will It Conquer ‘The Chasm’?
- XRP must break above $3.65 to confirm bullish pennant and unlock higher targets
- Fibonacci targets hint at XRP surging to $34.63 if macro trend aligns with momentum
- Market dominance under 6.5% may hinder XRP’s institutional appeal and sector influence
XRP’s market behavior is under the spotlight once again, as recent analysis from crypto strategist EGRAG CRYPTO suggests the digital asset is approaching a pivotal moment. With “Cycle 3” of XRP’s historical price behavior now unfolding, analysts are closely watching whether the token can replicate its previous breakout patterns.
Testing “The Chasm” and Key Price Levels
Historically, XRP has demonstrated cyclical surges after periods of consolidation. According to EGRAG CRYPTO, each cycle peaked above the red trendline dubbed “The Chasm.” In this current cycle, expectations are high for a rally beyond $11.
His longer-term Fibonacci projections point to a potential target of $34.63, with earlier milestones at $9.41 and $11.27. This aligns with previous patterns where major price explosions have followed confirmed breakouts.
Related: Multiple Charts, One Verdict: A Major XRP Rally Is Now Immin…
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XRP Eyes Major Breakout: Will It Conquer ‘The Chasm’?
- XRP must break above $3.65 to confirm bullish pennant and unlock higher targets
- Fibonacci targets hint at XRP surging to $34.63 if macro trend aligns with momentum
- Market dominance under 6.5% may hinder XRP’s institutional appeal and sector influence
XRP’s market behavior is under the spotlight once again, as recent analysis from crypto strategist EGRAG CRYPTO suggests the digital asset is approaching a pivotal moment. With “Cycle 3” of XRP’s historical price behavior now unfolding, analysts are closely watching whether the token can replicate its previous breakout patterns.
Testing “The Chasm” and Key Price Levels
Historically, XRP has demonstrated cyclical surges after periods of consolidation. According to EGRAG CRYPTO, each cycle peaked above the red trendline dubbed “The Chasm.” In this current cycle, expectations are high for a rally beyond $11.
His longer-term Fibonacci projections point to a potential target of $34.63, with earlier milestones at $9.41 and $11.27. This aligns with previous patterns where major price explosions have followed confirmed breakouts.
Related: Multiple Charts, One Verdict: A Major XRP Rally Is Now Immin…
The post XRP Eyes Major Breakout: Will It Conquer ‘The Chasm’? appeared first on Coin Edition.
Read More
Optimism (OP) Trading Volume Explodes by 303% After Upbit Listing Announcement