Zach Humphries, a YouTube channel with more than 150,000 subscribers, revealed that something huge is coming for Ripple, making investing in XRP a super attractive step. This is connected to its utility, strategic partnerships, and growth potential.
XRP looks stronger than anything else in terms of where it stands on the charts and moving averages. The strong use case in the payment sector, driven by Ripple’s technology, with its high transaction speed and low fees compared to the traditional financial system, makes XRP a standout.
XRP offers faster settlement times, and it’s only a matter of time until big institutions adopt XRP. It also has lower transaction fees which make it very attractive for real-world financial use cases and real-world tokenization.
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XRP Technical Analysis Shows Incoming Breakout
From a price standpoint, XRP is on the verge of a big breakout in its price history. A symmetrical bullish triangle pattern has formed over the past six years of XRP’s price performance.
Two converging trend lines met at the apex as a result of the price showing lower highs and higher lows. The pattern usually indicates that the price may break out in the direction of the existing trend, which is up.
If the 2018 case is followed, during the 315-day rally, the price of XRP surged by 60,000%. This suggests that once the breakout occurs, the bullish momentum for XRP will continue.
It’s important to remember that XRP was in a four-year lawsuit, and it’s going to be the first bull run, hopefully, that will have all that behind us. Based on the XRP price chart, not much remains until the pattern is completed.
The price was at 60 cents at the time of the video, up about 6% over a 7-day period. Several factors are driving this momentum.
One of the big voices in the XRP room, crypto analyst Brett Hill, pointed out the importance of this break above consolidation. The expert believes it will pave the way to hit 68 cents, 68.5 cents, and then we can start to talk about a spike to $1.
Short-Term Volatility Due to Liquidation
However, a little bit of liquidation is happening, leading to short-term volatility. 58 million XRP has been sold in the past 13 hours. According to Whale Alert, 33 million XRP valued at around 20 million was transferred from an unknown wallet to Binance, which was likely for a liquidation.
An XRP explorer shows the Binance transaction was made internally, and the anonymous wallet was linked to the crypto exchange. A deposit was also made to Bitstamp from a digital wallet associated with Ripple. Despite all these, the analyst sees the price spiking very soon as the liquidation reduces.
The analyst believes XRP is on the verge of something very huge as it is also very close to a major breakout from its price action pattern.
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