XRP Could Surge by 30%
Ripple (XRP) is up by 2.05% to $0.5398 this week, as it aims to catch up with the broader market. Bitcoin (BTC) has gained 3.3%, trading at $64,998. XRP, however, shows potential for closing this performance gap. The altcoin is currently trading near the support of an ascending triangle pattern that typically signals upside potential. This pattern has been forming for the past 14 weeks and appears to be nearing its completion.
If the pattern holds, XRP could rally toward the resistance level at $0.6300, representing a 17% increase. Furthermore, if it breaks through this resistance, the next target could be $0.7700, implying an additional 22% rise.
This opportunity has caught the attention of large investors, who are reportedly accumulating XRP. The market is also abuzz with discussions about a potential launch of an XRP-linked ETF, which could provide further momentum for the altcoin.
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