2024-9-28 16:00 |
Captain Faibik, a renowned crypto expert with over 90,000 followers on X, revealed that XRP’s price is heating up for a massive breakout with a midterm target of $2.30.
This prediction, however, was made because XRP’s price has been moving within a symmetrical triangular pattern on Faibik’s XRP weekly chart for some time.
With how long the XRP’s price has been following this pattern, a pump may be on the horizon. This pattern often indicates that the XRP price may break out once it hits the triangle’s tip, which is why traders and experts are keeping an eye on it.
Faibik’s XRP chart suggests that XRP is approaching this breakout, with $0.70 serving as the first resistance. However, if this level is surpassed, XRP could potentially test $1.00 and $1.74 before aiming for Faibik’s $2.30 target.
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Show more +Show less – Resistance Levels to WatchOne of the key elements of the symmetrical triangle pattern is the presence of resistance levels that the asset must clear to sustain upward momentum.
However, the XRP price will first need to break through the $0.70 resistance, which aligns with previous highs. Once XRP crosses this barrier, it could target $1.00 and higher levels, building momentum toward the projected $2.30 breakout.
The measured move from the triangle suggests a potential price of $1.74 based on the height of the formation. However, Captain Faibik’s more bullish projection points to $2.30, signaling higher upside potential if XRP manages to maintain its momentum.
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Analyst’s Perspective on XRP’s Price PotentialIn his tweet, Captain Faibik expressed optimism about XRP’s future, stating that the token is “finally heating up for a massive breakout.”
His analysis aligns with the symmetrical triangle pattern seen on the chart, which often signals a continuation or reversal depending on the breakout direction. While Faibik remains confident in the $2.30 target, traders are advised to monitor key resistance levels closely.
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The post Is Ripple (XRP) Price Set to Explode? Top Analyst Predicts $2.30 Breakout Soon appeared first on CaptainAltcoin.
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