- XRP has broken out of a six-year consolidation, signaling a major bullish move ahead.
- The Golden Cross confirms a strong upward trend as resistance flips to support.
- Analysts predict XRP could hit $8 or higher if the breakout momentum continues.
XRP is stealing the spotlight with its explosive breakout from a years-long triangular contemplation period. JackTheRippler, a well-known technical specialist in the crypto space, recently highlighted this move on his TradingView chart, sparking discussions across the community.
The chart clearly reveals historical patterns, flipped barrier zones, and bullish projections, painting a vivid picture of XRP’s potential surge beyond $8.
According to the chart, XRP has finally broken out of a long-standing symmetrical triangle that spans over six years. This pattern, often called a classic consolidation setup, precedes massive price movements. Historical data supports this sentiment: back in 2017, a similar breakout led to XRP skyrocketing by over 1,000%.
From Resistance to Support: The Key Flip
The graph underlines a technical milestone—the flipping of a resistance level into support. This moment marks a shift in market sentiment, reminiscent of its rise in 2017. During that cycle, the coin consolidated within a smaller triangular formation before breaking out and rallying to unprecedented heights. Now, it has replicated this setup on a much larger scale, suggesting that the magnitude of the upcoming rally could dwarf its historical counterpart.
Jack The Rippler’s projection is nothing short of ambitious but rooted in technical precision. If the breakout holds, XRP could be on track to reach $8 or higher, fueled by increased momentum and market confidence. The Golden Cross—a bullish crossover of moving averages—further supports this thesis. Such technical signals have historically preceded significant upward movements in XRP’s price.
Golden Cross Momentum: A Historical Catalyst
The chart shows the Golden Cross, an event where the 50-day moving average exceeds the 200-day moving average. This bullish signal often indicates the beginning of an upward trend. In XRP’s case, it aligns perfectly with the breakout from the triangle, amplifying its rising momentum.
The last time the token experienced a Golden Cross alongside a similar rally was in 2017 when the token’s value surged from under $0.01 to nearly $3.50 within months. If history is any guide, this combination of technical factors could propel the coin toward the projected $8 target or even beyond in the coming months.
What’s Next for XRP?
The present trajectory suggests that the token is poised for an explosive rally, but traders should remain cautious. While the technical setup is undeniably bullish, markets are always influenced by external factors, including regulatory developments and overall crypto investor sentiment.
The study has drawn attention on Twitter, with over 28,000 views and hundreds of comments praising his insights. The expert’s track record and meticulous charting have earned him a loyal following, and his $8 projection has become a focal point of community discussions.
DISCLAIMER:
The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
