Ripple (XRP) and Stellar (XLM) Gear to ‘Melt Faces’ as Biggest Compressing Symmetrical Triangle Pattern Tells a Super Bullish Story
A crypto analyst going by the name “Charting Guy” has made a bold prediction – Ripple (XRP) and Stellar (XLM) are on the verge of delivering explosive gains that will “melt faces.” This audacious claim stems from the analyst’s interpretation of a rare technical pattern forming on the charts of these two cryptocurrencies.
According to Charting Guy, both XRP and XLM have spent nearly six years trapped in a consolidation phase, leading many to write them off as “dead coins.” However, the analyst’s focus lies solely on the technical data, disregarding narratives and sentiment.
The crux of Charting Guy’s thesis revolves around the formation of what he describes as “the biggest compressing symmetrical triangle patterns” he has ever witnessed. These patterns, characterized by a series of higher lows and lower highs, are believed to precede substantial price expansions.
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Show more +For XRP, Charting Guy sees the symmetrical triangle pattern potentially propelling the cryptocurrency to targets ranging from a conservative $10 to an ambitious $38. The analyst acknowledges that the higher target may seem “mind-boggling” but presents it as a probability, expressing his firm belief that XRP will eventually breach triple-digit valuations within the next decade.
Stellar (XLM) finds itself in a similar position, with its price chart almost identical to that of XRP, exhibiting the same bullish symmetrical triangle pattern.
Addressing potential concerns regarding market capitalization, Charting Guy argues that the “total addressable market” (TAM) for XRP and XLM is vast, as these cryptocurrencies are poised to become “neutral bridge currencies” connecting central bank digital currencies (CBDCs). The analyst envisions XRP and XLM running “the new financial system,” facilitating transactions worth “quadrillions of dollars.”
While Charting Guy’s targets may seem audacious to some, the analyst remains unfazed, citing the primed “explosive looking charts” and the continued accumulation of these cryptocurrencies as the primary drivers behind his conviction.
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