XRP Bullish Symmetrical Pattern Breakout: Potential Gains Ahead!
XRP Ledger's native digital currency, XRP, operates on an open-source, permissionless, and distributed ledger that settles transactions in 3-5 seconds. It can be sent directly without needing an intermediary, making it a convenient instrument to bridge two currencies quickly and efficiently. Currently, there is significant potential seen in XRP, as it is forming a bullish symmetrical pattern over a long time frame.
This pattern emerged after the downtrend starting on December 25, 2017, which lasted until 2020. During the 2021 bull run, price movements were within this pattern. It is expected that in the 2025 bull run, XRP will break this pattern’s resistance, leading to substantial gains. This pattern is likely to be completed in 2024 or 2025.
XRP has a maximum circulating supply of 100 billion tokens, with approximately 55.69% of the supply currently circulating. The alt season is anticipated to begin around Q4 2024 or Q1 and Q4 2025, bringing substantial volume across the market. XRP has the potential to provide significant gains, with strong support currently at $0.4496, from where a substantial upward movement is expected. If this support level breaks, the next strong supports are at approximately $0.2474 and $0.22, where a bounce is likely.
As the alt season is approaching, we expect market volume to start increasing post-October 2024, leading to noticeable market momentum. It is crucial to exit the market around Q1 or Q4 2025, as the bull run and alt season are expected to end around this time, with prices potentially near these resistance levels.
Calculations indicate that XRP's bull run targets could reach a minimum of $11.56. If XRP flips the $11.56 resistance by Q1 2025, we might see maximum targets around $14.02. Prices tend to pump unexpectedly during alt seasons, and similar volatility can be expected again. However, it is important to keep trades active while observing resistance zones and to exit long positions around Q1 or Q4 2025.
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This pattern emerged after the downtrend starting on December 25, 2017, which lasted until 2020. During the 2021 bull run, price movements were within this pattern. It is expected that in the 2025 bull run, XRP will break this pattern’s resistance, leading to substantial gains. This pattern is likely to be completed in 2024 or 2025.
XRP has a maximum circulating supply of 100 billion tokens, with approximately 55.69% of the supply currently circulating. The alt season is anticipated to begin around Q4 2024 or Q1 and Q4 2025, bringing substantial volume across the market. XRP has the potential to provide significant gains, with strong support currently at $0.4496, from where a substantial upward movement is expected. If this support level breaks, the next strong supports are at approximately $0.2474 and $0.22, where a bounce is likely.
As the alt season is approaching, we expect market volume to start increasing post-October 2024, leading to noticeable market momentum. It is crucial to exit the market around Q1 or Q4 2025, as the bull run and alt season are expected to end around this time, with prices potentially near these resistance levels.
Calculations indicate that XRP's bull run targets could reach a minimum of $11.56. If XRP flips the $11.56 resistance by Q1 2025, we might see maximum targets around $14.02. Prices tend to pump unexpectedly during alt seasons, and similar volatility can be expected again. However, it is important to keep trades active while observing resistance zones and to exit long positions around Q1 or Q4 2025.
For more analysis like this, follow us on TradingView to stay updated with our latest ideas. Share your thoughts in the comments, and let us know if you would like an analysis of any specific coin or project. We are here to provide you with detailed insights to help you make informed trading decisions.
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