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08/13 03:54

XRP to $12? Analyst Reveals Bold Target Based on M

XRP to $12? Analyst Reveals Bold Target Based on Multi-Year Pattern

The analyst noted that a breakout of this XRP multi-year triangle could indicate a large bullish price target for the asset.

XRP Has Been Rising Since Breakout

In a new post on X, analyst Ali Martinez has revealed a multi-year technical analysis (TA) pattern on the weekly XRP price chart. The pattern in question is a triangle that forms whenever the asset trades between two converging trend lines.

The upper line of the pattern is likely to provide resistance, while the lower line is likely to provide support. A breakout of either level could indicate a continuation of the trend in the corresponding direction; a move above the triangle could be bullish, while a move below it could be bearish.

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