Still Sleeping with XRP? Analyst Says $8 Breakout is 'Awaiting'

In a live broadcast on June 15, cryptocurrency analyst Cantonese Cat gave a firm verdict on XRP's prolonged consolidation: don't be fooled by the sideways movement. Despite trading in a narrow range for over half a year, the chart veteran argued that XRP is accumulating energy for a powerful movement, which could take it to values between $6 and $8 as soon as it breaks its multi-month technical barrier. He highlighted that the current price is just below the next important Gann resistance level, which closely aligns with a Fibonacci extension target between $6 and $8. #BinanceAlphaAlert

Cantonese Cat believes that this arc will be the trigger for the movement. He also mentioned that XRP has already broken the monthly Ichimoku Cloud, a significant bullish milestone in Ichimoku analysis. XRP has maintained the Tenkan and Kijun without returning to the cloud, which he considers a bullish sign. The broader structure, according to his analysis, is a classic breakout scenario: a horizontal level has been surpassed, tested again, and now serves as support. #VietnamCryptoPolicy

To reinforce his thesis, he pointed out the Fibonacci retracements, specifically XRP's behavior around the 0.86 level. If XRP can convincingly break above 0.86, he believes new all-time highs may occur. When asked why the market is not moving yet, he dismissed the apparent stagnation as noise, stating that the lack of momentum is not a sign of weakness, but rather an indication that XRP is compressing in a low-volatility zone, a typical prelude to a high-volatility expansion.

Despite the discreet performance of XRP while other assets like Bitcoin and Solana gain prominence, Cantonese Cat made it clear that he does not see structural damage. $XRP