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XRP triangle breakout could target $30
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The prediction is based on the 2,600% rise in XRP during the 2017 bull market
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The price of XRP has increased by approximately 10% in the past 24 hours
Egrag Crypto, a cryptocurrency analyst, shared a report on X that showed XRP’s potential price. They highlighted a symmetrical triangular pattern on XRP’s chart, suggesting a breakout could result in a price surge that could reach even $30. This projection may seem overly optimistic but it is based on XRP’s 2,600% price increase during the 2017 bull market.
Analysts say that if the price retraced to the triangle’s edges from the $1.20 mark, a possible $30 level is now possible.
Egrag’s findings are in line with those of other analysts who have observed similar patterns in XRP price movements. Ali Martinez, for example, shared a video last month showing XRP breaking free of a multiyear symmetrical triangular pattern (formed since 2018), indicating a possible surge towards $15.
This isn’t Egrag’s first similar analysis of XRP in recent times, and we haven’t seen if it’s true yet.
XRP’s price is currently $1.98, up around 10% over the last 24 hours. If XRP is able to reach the projected $30 goal, it will require a strong bullish market and a lot of momentum.
XRP’s Performance
The crypto market has been even more volatile due to the current tariff announcements. XRP also followed the trend and dropped to $1.65 just a few days after it was always above $2. It even reached $2.54 in March.
Even so, reports indicate that large investors have added approximately $2 billion to the value of their holdings despite the macroeconomic challenges.
BlocScale Launchpad, another XRP-related company, has begun the tokenization of real assets on the XRP Ledger. This is a move to connect traditional assets such as real estate and commodities, with blockchain technology.
Despite all the turmoil, XRP is still a popular cryptocurrency. As for the potential symmetrical breakout, it could eventually prove to be true. This formation usually indicates a period before price breaks out either way.
This chart and analysis may not mean much if Trump continues to play with tariffs, and the market continues to react by going up and downwards.
