{"id":632699,"date":"2024-08-02T02:30:12","date_gmt":"2024-08-02T02:30:12","guid":{"rendered":"https:\/\/wncen.com\/?p=632699"},"modified":"2024-08-01T19:16:02","modified_gmt":"2024-08-01T19:16:02","slug":"xrp-price-6-year-triangle-1","status":"publish","type":"post","link":"https:\/\/wncen.com\/analysis\/xrp\/xrp-price-6-year-triangle-1\/","title":{"rendered":"XRP Price Breaks Out Of 6-Year Triangle, But Is A Rally To $1 Possible?"},"content":{"rendered":"

The XRP price has been experiencing notable movements since the last week of July, closely linked to updates about a potential settlement <\/span>between the SEC and Ripple<\/span><\/a>. This anticipation has significantly influenced XRP’s market performance, causing a remarkable surge in its price as it skyrocketed from $0.599 to $0.655 in just a matter of hours. Although the price has since corrected, this rapid increase has once again highlighted<\/span> XRP’s potential<\/span><\/a> and its ability to draw substantial investor interest.\u00a0<\/span><\/p>\n

According to a crypto analyst, XRP is just <\/span>waiting to break out <\/span><\/a>of a symmetrical triangle in which it has consolidated for years. A breakout of the triangle would mean intense, full, bullish pressure on the price of XRP.\u00a0<\/span><\/p>\n

XRP To Breakout Of Symmetrical Triangle<\/h2>\n

The analysis of the XRP price movement, <\/span>recently shared<\/span><\/a> on the social media platform X by the prominent crypto analyst Ali Martinez, has captured significant attention. Martinez’s detailed examination reveals that the XRP pri has been consolidating within a symmetrical triangle pattern for the past six years. <\/span><\/p>\n

According to the monthly candlestick XRP price chart he posted, this consolidation phase began after XRP reached its all-time high of $3.40 during the early 2018 bull market, which triggered a bearish run until it bottomed out at $0.11 in 2020. Since then, XRP’s price has been characterized by a series of lower highs and higher lows, which has resulted in the formation of the symmetrical triangle pattern observed by Martinez.<\/span><\/p>\n

Symmetrical triangle patterns typically indicate periods of consolidation before a significant price movement. For XRP, this period of consolidation has been notably prolonged, extending beyond the usual timeframe expected for such patterns. This extended consolidation has been further exacerbated by Ripple’s legal issues with the SEC, which have stunted the crypto’s price since December 2020. <\/span><\/p>\n

A breakout from this symmetrical triangle would signal the beginning of intense bullish pressure on XRP’s price, potentially leading to a substantial upward trend. <\/span>Martinez highlights that the critical breakout point for XRP is around $0.90. He suggests that surpassing this level could be the catalyst for a substantial upward trend. In his own words, “A bullish breakout could occur if #XRP surpasses $0.90.”\u00a0<\/span><\/p>\n

\"XRP
Source: X<\/figcaption><\/figure>\n

XRP Price Rally to $1?<\/h2>\n

The XRP price has increasingly <\/span>been in the spotlight<\/span><\/a> in the past year as the Ripple-SEC lawsuit seems to be drawing to a close. This increase in activity has seen the cryptocurrency inch closer to the breakout level of $0.90.\u00a0<\/span><\/p>\n

On-chain data provides further insights into the <\/span>growing optimism <\/span><\/a>around XRP’s future performance. Many investors are anticipating a bullish run for XRP and are already positioning themselves accordingly. According to data from Santiment, there has been a <\/span>notable increase in <\/span><\/a>shark and whale wallets over the past five weeks. These wallets, which hold at least 10,000 XRP each, have seen a significant uptick. Wallets falling into this category are now around 279,400 addresses, which suggests increased accumulation.\u00a0<\/span><\/p>\n

\"XRP
XRP price continues downtrend | Source: XRPUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The XRP price has been experiencing notable movements since the last week of July, closely linked to updates about a potential settlement between the SEC and Ripple. This anticipation has significantly influenced XRP’s market performance, causing a remarkable surge in its price as it skyrocketed from $0.599 to $0.655 in just a matter of hours. Although the price has since corrected, this rapid increase has once again highlighted XRP’s potential and its ability to draw substantial investor interest.\u00a0 According to a crypto analyst, XRP is just waiting to break out of a symmetrical triangle in which it has consolidated for years. A breakout of the triangle would mean intense, full, bullish pressure on the price of XRP.\u00a0 XRP To Breakout Of Symmetrical Triangle The analysis of the XRP price movement, recently shared on the social media platform X by the prominent crypto analyst Ali Martinez, has captured significant attention. Martinez’s detailed examination reveals that the XRP pri has been consolidating within a symmetrical triangle pattern for the past six years. According to the monthly candlestick XRP price chart he posted, this consolidation phase began after XRP reached its all-time high of $3.40 during the early 2018 bull market, which triggered a bearish run until it bottomed out at $0.11 in 2020. Since then, XRP’s price has been characterized by a series of lower highs and higher lows, which has resulted in the formation of the symmetrical triangle pattern observed by Martinez. Symmetrical triangle patterns typically indicate periods of consolidation before a significant price movement. For XRP, this period of consolidation has been notably prolonged, extending beyond the usual timeframe expected for such patterns. This extended consolidation has been further exacerbated by Ripple’s legal issues with the SEC, which have stunted the crypto’s price since December 2020. A breakout from this symmetrical triangle would signal the beginning of intense bullish pressure on XRP’s price, potentially leading to a substantial upward trend. Martinez highlights that the critical breakout point for XRP is around $0.90. He suggests that surpassing this level could be the catalyst for a substantial upward trend. In his own words, “A bullish breakout could occur if #XRP surpasses $0.90.”\u00a0 XRP Price Rally to $1? The XRP price has increasingly been in the spotlight in the past year as the Ripple-SEC lawsuit seems to be drawing to a close. This increase in activity has seen the cryptocurrency inch closer to the breakout level of $0.90.\u00a0 On-chain data provides further insights into the growing optimism around XRP’s future performance. Many investors are anticipating a bullish run for XRP and are already positioning themselves accordingly. According to data from Santiment, there has been a notable increase in shark and whale wallets over the past five weeks. These wallets, which hold at least 10,000 XRP each, have seen a significant uptick. Wallets falling into this category are now around 279,400 addresses, which suggests increased accumulation.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":632703,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83363],"tags":[167,6664,26263,14690,3680,17209,4531,83637,13172,10972,78763],"class_list":["post-632699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-ripple","tag-ripple-news","tag-xrp","tag-xrp-news","tag-xrp-price","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nXRP Price Breaks Out Of 6-Year Triangle, But Is A Rally To $1 Possible?<\/title>\n<meta name=\"description\" content=\"The XRP price has been experiencing 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Price Breaks Out Of 6-Year Triangle, But Is A Rally To $1 Possible?","url":"http:\/\/wncen.com\/analysis\/xrp\/xrp-price-6-year-triangle-1\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/analysis\/xrp\/xrp-price-6-year-triangle-1\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/XRP-Price.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/XRP-Price.jpeg?fit=1792%2C1024"},"articleSection":"XRP","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","crypto","crypto analyst","crypto news","ripple","ripple news","xrp","xrp news","xrp price","xrpusd","xrpusdt"],"dateCreated":"2024-08-02T02:30:12Z","datePublished":"2024-08-02T02:30:12Z","dateModified":"2024-08-02T02:30:12Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Price Breaks Out Of 6-Year Triangle, But Is A Rally To $1 Possible?\",\"url\":\"http:\\\/\\\/wncen.com\\\/analysis\\\/xrp\\\/xrp-price-6-year-triangle-1\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/analysis\\\/xrp\\\/xrp-price-6-year-triangle-1\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/XRP-Price.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/XRP-Price.jpeg?fit=1792%2C1024\"},\"articleSection\":\"XRP\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"crypto\",\"crypto analyst\",\"crypto news\",\"ripple\",\"ripple news\",\"xrp\",\"xrp news\",\"xrp price\",\"xrpusd\",\"xrpusdt\"],\"dateCreated\":\"2024-08-02T02:30:12Z\",\"datePublished\":\"2024-08-02T02:30:12Z\",\"dateModified\":\"2024-08-02T02:30:12Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/XRP-Price.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/632699"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=632699"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/632699\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/632703"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=632699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=632699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=632699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}