$XRP XRP price has been in a state of consolidation for 200 days:
Experts have predicted a breakout between $3.70 and $10 or a drop to $1.33.
XRP's price has been stable in the range of $1.90 to $2.90 for approximately 200 days, and during this time, a balanced triangle pattern has emerged on the charts.
Technical analysts consider the current situation similar to the historical rally of 2017, where XRP saw a rapid increase from a low price to above $3.
Current technical indicators also suggest that XRP could breakout to levels between $3.70 and $10 or even $25 in the near future, which would be a significant increase compared to the recent price.
Experts say that a balanced triangle shape is generally neutral but in a bullish market, its breakout tends to be upward.
Crypto analyst Mikey Bull stated that the triangle present on the current three-week chart resembles the 2017 rally, and if this pattern repeats, a 75% increase in XRP is possible.
XRP Pinky has also supported this prediction and expects a breakout between $3.70 and $4 compared to current prices.
In the long-term scenario, according to Galaxy BTC, XRP could follow the breakout pattern from 2014 to 2017, during which the price increased by up to 1300%.
If this happens, XRP could reach between $8 and $10, while some traders also have price expectations between $20 and $27, with the approval of the spot XRP ETF considered a key driver.
However, cautious analysts have warned that a bearish pattern known as 'inverse cup and handle' is also present, which could drop the price to $1.33.
If the price falls below $2.20 and the support at $1.90 is broken, the bearish trend could become more severe.
The current price is approximately $2.14 and it is within XRP's range of consolidation.
Changes in volume in the coming days, the breakout direction from the triangle, and the general state of the crypto market will clarify XRP's next big move.
Traders and investors are closely watching the resistance at $2.90 and the support at $1.90, as a breakout or breakdown from these levels will determine the price trend in the coming months....
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