$XRP, the popular blockchain Ripple’s native token, has recently made a groundbreaking development. As per the data from the well-known crypto analyst Ali, $XRP has broken out of a multi-year symmetrical triangle, raising the potential for an approaching bull rally. The crypto analyst provided insights into the current positive outlook of $XRP and its further price movement.
$XRP’s Breakout from Multi-Year Symmetrical Triangle Boosts Investor Confidence
Ali has pointed toward the recent breakout of $XRP from the years-long symmetrical triangle as a noteworthy move. As per the analyst, $XRP’s current market position is crucial for its further price development. Surpassing the long-held resistance level, which has been pushing down $XRP’s price since the year 2018, is decisive in shaping its future.
The symmetrical triangle pattern highlights a remarkable technical formation. It signifies a phase consolidation phase before a huge price rally. Based on historical data, such breakouts often pave the way for massive gains. Particularly, in the case of $XRP, AIi anticipates a likely spike toward the $15 spot. The latest data reveals that this bullish outlook of $XRP discloses the onset of a notable market rally.
Crypto Asset Eyes $15 Mark as Likely Price Target
According to Ali, breaking out from the multi-year symmetrical triangle underscores a crucial opportunity for $XRP investors. As per the crypto analyst, the investors can capitalize on the likely upcoming bull run. While the positive momentum is building around $XRP, the popular crypto toke eyes the $15 mark as a potential price target.
