Can $XRP Regain $3 Next?🚀
The cryptocurrency market has seen XRP perform well in the previous week. With the crypto atmosphere getting more unpredictable every day, XRP is the only large-cap asset with some consistency.
XRP has been trading sideways for weeks, but some believe it will break out. How high can the third-largest cryptocurrency go next?
Popular crypto trader made an intriguing prediction for XRP's value in a March 7 article on X. Martinez said the altcoin's price might rise 23%.
The short-term XRP chart shows a symmetrical triangular formation, supporting this optimistic prognosis. A diagonally falling upper trendline (linking swing highs) and a diagonally rising lower trendline (along price troughs) form the symmetrical triangle technical analysis pattern.
Price would break the falling (upper) trendline for a bullish breakout or the rising (lower) trendline for a breakdown. After breaking out or down the present pattern, the asset's price is more likely to continue in the original trend direction than to reverse.
In the present price scenario, XRP may break out of the symmetrical triangle and continue rising. To confirm a bullish breakout, two candlesticks must close above the top trendline.
Based on this rationale, Martinez anticipates XRP will rise 23% to $3 in the next days. Adding the width of the symmetrical triangle's base to the breakout point yielded this price target.
