Apparently, XRP has a history of symmetrical triangle patterns. In 2017, the cryptocurrency broke out of a similar symmetrical triangle pattern which pushed the token to new all-time highs. As for when this will happen, the analyst points toward the expected 2024 bull run.
In this case, the analyst highlighted that the XRP/BTC pair had finally reclaimed the 20-day and 50-day moving averages, and the last time this had happened had also been back in 2017. This led to an over 500% increase in the price of the altcoin at the time.
Following XRP Captain’s prediction of XRP’s possible bull run, other crypto analysts have also shared their thoughts on the sheer incredulity of the prediction.
Another crypto trader and chartist, JD was enthusiastic about the technical patterns XRP price charts were displaying. He explained that the symmetrical triangle was accurately represented. However, he could not see the price of XRP reaching three digits.
“I just can’t see that 3 digit target. $20s are still in the cards though,” he stated.
XRP is currently looking toward a reversal with its price seeing meager gains of 0.02% in the last day. However, it is still struggling on the weekly chart with losses of 2.61%.
