The seventh largest cryptocurrency, Ripple (XRP) started its new week with big green candles after being bearish for the last two weeks. The token leaves all its competitors behind making a tragic upward trend, as this could be the biggest breakout in price history.
Source: Trading View
It is the most current pattern of lower high and higher low, where two trading lines join at the bottom Candlestick pattern. That is why it destabilizes the price cycle when the volatility shrinks, and when a critical point is achieved.
Following the pattern formed in 2018, this year XRP spiked by 60,000%, and the price may spike following the upward trajectory of the graph. Once this breakout occurs, it will come out as a continuous bullish for the asset.
From the present price chart, the formation is almost but only almost complete. Nevertheless, that is unlikely to be completed this year and may not be completed in the first half of 2025 either.
It is quite interesting to imagine what might happen to XRP if the triangle formation comes into play, more so given that the currency is worth $30 billion as we speak. Simply repeat the same levels as in 2018, and it could easily grow by 30 thousand percent.
This would take the market cap of XRP to an astonishing $9. It could reach 66 trillion—and that could once have seemed unthinkable.
Currently, the token is trading at a mark of $0.5855 with 3.88% up during its trading hours. The market cap held by the token is $32.9 billion with a trading volume of $980.7 million as per CoinMarketCap data.
