XRP’s recent surge to a new all-time high has reignited bullish forecasts, with analysts pointing to technical patterns that resemble its legendary 2017 rally.
According to TradingShot, a prominent chartist on TradingView, XRP’s latest move out of a symmetrical triangle could be the early stage of another explosive run.
What stands out is the broader setup: a consolidation phase that mimics XRP’s past cycle, an impending golden cross between the 50-day and 200-day moving averages, and a rally trajectory aligning with the 1.5 Fibonacci extension—suggesting a potential climb toward $8.50 by year-end.
Momentum indicators like the Relative Strength Index also mirror historic behavior, showing rising highs as buying pressure builds.
Meanwhile, crypto analyst Tony Severino highlighted a similar narrative, noting XRP’s breakout past the long-standing $3.30 resistance as a major shift into uncharted price territory. He warned, however, that sharp breakouts often end in steep corrections, advising caution despite the excitement.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/xrp-enters-price-discovery-zone-how-far-can-it-go/