Analyst named Crypto Rover XRP He predicted where the token could go in the next eight to ten weeks. The analyst shared a weekly chart detailing the altcoin’s price movements since 2021.
According to the analyst, while he expects a significant break in the next 8-10 weeks, he drew attention to a similar price movement. XRP price jumped from $0.4665 to $1.9669, a 321% increase, exactly one month after starting a rally in March 2021. However, while the price lost its value after the selling pressure, some believe that the harshest impact of the lawsuit filed by the SEC began at that time.
However, the price started to show resilience by recording higher lows from October 2022 onwards. This was an important step that pointed to the formation of a rising trend line and reduced the possibilities of a sharp decline.
The combination of lower highs and higher lows led to the convergence of the upper descending trendline and the lower ascending trendline. This resulted in the formation of a symmetrical triangle according to the data on Crypto Rover’s chart.
XRP continues to trade within this symmetrical triangle since October 2022. The altcoin’s first positive breakout attempt was on July 13, 2023, when Judge Analisa Torres called Ripple vs. It occurred amid a rally to $0.93 following its landmark decision in the SEC case. However, this rally was short-lived. Although Price later made different efforts, they all failed.
Analyst Meloneusk also claims that XRP could reach $1,042 in the near future. The analyst cited an ascending channel on the daily chart, among other metrics.