Technicals Reveal Ripple’s XRP Price May Break Out Above $1.5 and Rally to $7.5 – Here’s How

A new technical formation takes shape on the Ripple (XRP) price chart, which has renewed the possibility of a potential surge. According to EGRAG Crypto, a renowned crypto analyst, a white Triangle pattern is emerging, incorporating highs from 2021, and it heralds the arrival of the “Genuine Wake-Up Line” – a potential catalyst for a monumental price surge.

Ripple (XRP) Price Analysis

EGRAG Crypto introduced the “Final Wake-Up Line,” a technical indicator that foreshadowed a breakout for XRP in July 2023. However, while the breakout materialized, it fell short of the lofty heights that the crypto community had hoped for, leaving many investors yearning for more.

Now, a white Triangle pattern is forming, incorporating the highs from 2021, and within this formation, the “Genuine Wake-Up Line” emerges, represented by a yellow line on the chart.

According to EGRAG Crypto, a breakout around $1.5 within the white Triangle could pave the way for a momentous ascent to $7.5, nestled within the broader Blue Triangle pattern.

How Can XRP Price Hit $7.5

For XRP to embark on this journey to $7.5, a critical condition must be met: the digital asset needs to break past the “Genuine Wake-Up Line” with unwavering conviction, followed by a retest to confirm the upward trajectory.

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EGRAG Crypto emphasizes that the $7.5 target represents merely the first wave within a broader macroeconomic wave 3, hinting at even loftier targets in the three-digit realm.

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Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.