Analyst Predicts XRP Third Consecutive Breakout By September 1. Here’s why
Main Idea
Analyst Patrick L. Riley predicts a potential third consecutive breakout for XRP by September 1, based on a nine-month cup and handle formation and historical price patterns.
Key Points
1. Patrick L. Riley, a cryptocurrency analyst, anticipates a breakout for XRP by September 1, citing a nine-month cup and handle formation.
2. The breakout could be validated if XRP breaks above the $3.30–$3.40 resistance zone with strong trading volume.
3. XRP's recent market strength is supported by network upgrades and Ripple’s payment solutions, mirroring earlier breakout patterns.
4. Historical XRP cycles suggest that breaking above $3.40 could lead to short-term price targets of $4–$5, with potential for higher projections.
5. Potential risks include a failed breakout, broader macroeconomic factors, or regulatory developments impacting XRP's price movement.
Description
Patrick L. Riley, a well-known cryptocurrency analyst, has set the stage for heightened anticipation in the XRP community. In a recent post on X, Riley stated, “You’ve waited this long $XRP. We’re approaching the end of a 9-month cup and handle, with clarity, and looking at our third consecutive breakout by September 1st.” His outlook hinges on a textbook technical pattern that, if confirmed, could propel XRP into its next major rally phase. A Nine-Month Cup and Handle Formation The cup and hand...
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