In a tweet, crypto analyst Armando Pantoja, known as @_TallGuyTycoon on X, suggests that the XRP price could be preparing for a massive price surge. According to Pantoja, XRP’s ongoing consolidation phase within a symmetrical triangle pattern may soon break out, potentially leading to substantial gains.
Notably, Pantoja anticipates a $100 price target, which he claims could be achievable if regulatory pressures ease.
Related: Ripple’s Latest Market Report Shows Surging Interest in XRP
What you'll learn 👉
XRP’s Seven-Year Consolidation and Symmetrical Triangle Formation
Pantoja’s XRP chart reveals a seven-year consolidation phase, forming a symmetrical triangle—a pattern often associated with market compression that can precede a breakout.
Symmetrical triangles typically indicate a continuation of tren. However, in extended consolidations, they may signal either upward or downward movement.
Besides, this extended pattern suggests that XRP’s price has been gradually accumulating momentum, which could drive a sharp price increase if resistance is breached.
A closer look at the chart shows XRP trading within this triangle, testing a support level around $0.38 and approaching a resistance near $1. This consolidation highlights a steady buildup of potential energy, positioning XRP for a possible breakout above the $1 mark.
Should this breakout occur, Pantoja believes it could pave the way for more aggressive targets, possibly reaching the projected $100.
Key Technical Indicators and Volume Activity
In addition to the symmetrical triangle, XRP is also showing notable trading volume around its current price level. The increased volume indicates heightened interest among both buyers and sellers, particularly as XRP hovers near its 200-day EMA.
Historically, movements above this long-term EMA have often triggered sustained rallies, making the current positioning especially relevant to bullish traders.
If XRP surpasses the upper boundary of the triangle with sufficient volume, it could signal strong buying interest, potentially intensifying any upward trend. Previous price actions, such as the rapid gains seen in the 2017-2018 rally, support the possibility of substantial price moves following a breakout.
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Projected Upside and Regulatory Influence
The tweet from Pantoja adds a fundamental perspective, suggesting that the potential dismissal of SEC Chair Gary Gensler could positively influence XRP’s regulatory landscape.
This change could ease regulatory pressures on XRP, providing a conducive environment for its price to appreciate further. Pantoja implies that such a shift might act as a catalyst, complementing the technical setup and potentially leading XRP toward the ambitious $100 target.
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