<ul class="news-points">
 <li>XRP has dropped 4% in the past 24 hours, currently trading at $0.4595.</li>
 <li>Analyst “Crypto Rover” shared a five-year consolidation pattern for the XRP price action.</li>
 <li>Since July 2023, most digital assets have outperformed XRP.</li>
</ul>
XRP’s price action is at a critical juncture, with technical analysis hinting at a potential breakout. However, the cryptocurrency faces both bullish and bearish sentiment within the market, leaving its future trajectory unclear.
In an X post, an analyst <a href="https://x.com/rovercrc/status/1808564865902260380" target="_blank" rel="noopener noreferrer nofollow">highlighted</a> a five-year pattern in play for the XRP token, as his followers weighed in. As shown in the chart below, the leading digital asset has formed a symmetrical triangle trading pattern, suggesting a breakout or breakdown may follow.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXe6SmDGj5DTv6eEM3N3BzZab2WV2VPfx749O3JQ51xCfwXoOJ7wZyPMVc48njFKohQiscMlqUJe2GyCJevqZfdqXSvK_61eBwj_OSA_AcHRo4J78mYmngxZwQn4Xnf2b4vFn_Fb2hCbWof0uAE84bVsUOMB?key=8Eb3NIwIY8SOjfKiDHnrAw" alt="">
</figure>
A symmetrical triangle is a common chart pattern. Crypto Rover said that the XRP price action has been consolidating between the upper and lower regions of the triangle for five years, which means that the breakout or breakdown could be significant.&nbsp;
Once the price action reaches the breakout point, investors need to monitor trading volumes. If the volume is not high enough, the breakout could be false. Traders often advise investors to wait …
The post <a href="https://coinedition.com/xrp-big-move-incoming-analyst-shares-5-year-pattern-in-the-making/" rel="noopener noreferrer nofollow">XRP Big Move Incoming? Analyst Shares 5-Year Pattern in the Making</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

XRP Big Move Incoming? Analyst Shares 5-Year Pattern in the Making

Coin Edition

Other articles published on Jul 4, 2024

How to Find the Best Airdrops 2024

Verge Ensures User Anonymity with Fast Transactions

Shiba Inu Whales Accumulate as Retail Investors Panic Sell

Retirement Portfolio Boosters: 5 Altcoins to Watch in 2024

Notcoin and Helika Set to Launch Telegram Gaming Accelerator

VanEck’s Solana ETF Filing: A High-Stakes Gamble on Trump’s Re-Election

Join our free newsletter for daily crypto updates!