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XRP Builds Pressure: 200-Day Consolidation May Fuel Explosive Upside
The price of Ripple (XRP) has been consolidating within a tight range for over six months, with some analysts pointing out that this prolonged period could ultimately lead to an explosive breakout. According to the current trend, XRP is stuck near its 200-day mark.
In recent weeks, the altcoin has traded between $1.90 and $2.90. Despite the extended downtrend, several experts highlight historical patterns that suggest a significant price increase ahead. The prolonged pressure within this consolidation phase could position XRP for a notable price surge.
XRP’s current pattern bears a striking resemblance to its 2017 behavior. At that time, XRP skyrocketed by over 1,300% and reached $3.40. This observation is consistent with recent discussions from cryptocurrency analysts Mikybull Crypto and XRPunkie.
Source: www.crypto-news-flash.com
