Xrp Will Reach Ath17 $? This “Secret Pattern” Could Be a Clue
- Analysts have highlighted XRP’s potential for a bullish surge if it reclaims the $0.75 threshold, leading to new all-time highs.
- The long-term triangle pattern that XRP has been accumulating within has drawn significant interest in the crypto community.
Ripple [XRP] is currently navigating a sizable triangle pattern that has been evolving over more than seven years, potentially representing a corrective mode aligned with wave theory given its extensive history.
Analysts emphasize the importance of the triangle pattern, with subwave C acting as a pivotal point for future price action. Staying above subwave C could lead to new all-time highs, while failing to do so could result in less favorable 1-2 wave formations.
If the intermediate wave 2 in orange breaks the invalidation level, there could be a shift to a higher degree primary wave 2, extending the correction period and potentially resulting in a price drop below one cent.
Despite these risks, XRP has recently shown some momentum and encountered resistance at around $0.46, indicating diminishing selling pressure.
XRP: Market Performance
At the time of writing, the price of XRP stands at $0.4524with a 24-hour trading volume of $1,028,944,454.
EGRAG and other analysts have provided detailed outlooks on XRP’s potential future, setting targets that indicate a possible rally towards new all-time highs.
Source: X
One crucial factor identified by analysts is XRP reclaiming the $0.4 region, which it fell below on July 5 but has since recovered, trading at $0.44, up 2% in the last 24 hours.
EGRAG emphasizes that a close above $0.75 is essential to confirm the initial stages of an uptrend and the potential for a new all-time high.
Market Activity and Trends
According to AskFX’s analysis of Santiment data, there has been a correlation between XRP’s price fluctuations and transaction volume over the past six months.
Source: Santiment
Realistic or not, here is XRP’s market cap in BTC terms
Despite some fluctuations, the number of active addresses has generally been declining, parallel to a gradual decline in XRP price. This trend indicates a possible reduction in network activity and user engagement, potentially impacting XRP’s long-term performance.
