XRP Price Prediction: Targets $4-5, Upside of 453% In recent market observations, XRP has shown an important technical formation that could mean a big move is imminent. It has formed a textbook symmetrical triangle pattern, which often signals a possible breakout, crucial for any XRP price prediction.
The symmetrical triangle pattern in the XRP chart started in early 2020 and spans several years to the current market phase. This long-term pattern suggests a long period of consolidation, which usually precedes a big breakout. If XRP breaks out, the height of the widest point of the triangle can be used to estimate the potential price target.
According to the chart, the height measured from the low in early 2020 to the high in mid-2021 shows considerable upside potential. The chart annotation predicts a price target of between $4 and $5. This prediction suggests a whopping 453.71% upside.
According to the report, XRP is trading just above the key support level of $0.52, which is a key moment for bullish investors. This price point paves the way for a breakout above the $0.6049 mark and challenging the next resistance at $0.6649.
Technical analysis, the Elliott Wave Theory describes XRP’s current position in the market. According to the theory, XRP is experiencing the third wave, which is the strongest and longest phase of a bull cycle, usually accompanied by a sharp rise in price.
At press time, XRP’s price was $0.5242, and its 24-hour trading volume surged 89% to $1,180,018,612. This sharp rise indicates growing investor confidence, a surge in market activity, and more traders are participating in XRP trading at these levels.