bullish

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
The popular cryptocurrency&nbsp;<a href="https://u.today/70-xrp-price-pump-predicted-by-fall-if-history-repeats-itself" rel="noopener noreferrer nofollow">XRP</a> is heading into the weekend with a gain of nearly 7%. Since the beginning of the week, the price of the token has shown bullish behavior, which has not gone unnoticed, including by top crypto analysts. As a result, the quotes of the cryptocurrency came to the zone of $0.6 per&nbsp;<a href="https://u.today/dogecoin-community-excited-by-elon-musks-new-post-247-billion-xrp-in-24-hours-pepe-achieves-top" rel="noopener noreferrer nofollow">XRP</a>.&nbsp;
This year, the token was already trading at this level, but after the strongest shakeout in the market in a long time against the backdrop of geopolitical uncertainties, it fell below this mark and has only now returned.&nbsp;
This rally fits perfectly into perhaps the main narrative surrounding&nbsp;<a href="https://u.today/ripple-stablecoin-makes-first-beta-steps-on-xrp-ledger" rel="noopener noreferrer nofollow">XRP</a> right now, as the cryptocurrency prepares for perhaps the biggest price breakout in history.
As the main argument, this is signaled by the huge bullish triangle pattern that the&nbsp;<a href="https://u.today/xrp-to-1-heres-how-it-can-happen-ethereum-eth-might-lose-even-more-dogecoin-doge-reclaims-strategic" rel="noopener noreferrer nofollow">XRP</a> price has been drawing since as far back as 2018. The last time something like this happened, the price of the popular cryptocurrency rose nearly 60,000% in just over 300 days.&nbsp; <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="271d47ef-f59c-41f6-aef0-96162f9c376c" src="https://u.today/sites/default/files/inline-images/XRPUSD_2024-08-23_13-37-27.png">Source: <a href="https://www.tradingview.com/x/zfXwVX5M/" rel="noopener noreferrer nofollow">TraingView</a>
<h2 dir="ltr" id="is-it-possible-for-this-to-happen-again">Is it possible for this to happen again?&nbsp;</h2>
It is a long shot, considering that&nbsp;<a href="https://u.today/xrp-on-verge-of-biggest-breakout-in-price-history-details" rel="noopener noreferrer nofollow">XRP</a> is now a crypto asset with a market capitalization of more than $30 billion. An increase in its price by thousands of percent would make the valuation of&nbsp;<a href="https://u.today/ripple-cto-breaks-silence-on-ipo-and-cashout-plans-for-early-backers" rel="noopener noreferrer nofollow">XRP</a> simply absurd and in the trillions of dollars.&nbsp;
This is while the main cryptocurrency, Bitcoin, itself has a market cap of $1.21 trillion.&nbsp;
However, XRP's growth is still expected, both by major analysts looking at the token's chart without any bias, and directly by enthusiasts drawing crazy parabolas on the price chart. Therefore, it will be interesting to see what the future holds for the seventh largest cryptocurrency.

XRP Jumps 7% as Biggest Breakout in Price History Nears

Table of Contents

U_Today

Other articles published on Aug 23, 2024

Turkey Implements Significant Cryptocurrency Regulations This Year

Coinbase Enhances Stablecoin Offering with EURC Integration on Solana

Bitcoin Reaches $62,000 After Fed Announces Rate Cuts

Gate Ventures and Abu Dhabi Blockchain Center Launch $100M Web3 Fund

Here’s Everything You Need to Know About Powell’s Jackson Hole Speech

Dogecoin Price Analysis As Cautious Whales Book Profits

Join our free newsletter for daily crypto updates!