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XRP Builds Pressure: 200-Day Consolidation May Fuel Explosive Upside
- XRP is in a period of consolidation near the 200-day mark, trading between $1.90 and $2.90, with analysts predicting an upcoming breakout that could lift its price significantly.
- The current triangle pattern formed by XRP resembles its 2017 breakout setup, creating bullish sentiment among analysts.
- Analysts suggest that a breakout from the triangle could propel XRP to $3.70 or even $10, possibly reaching as high as $25.
- Ripple CEO Brad Garlinghouse has hinted at XRP potentially securing a substantial market share of SWIFT's cross-border payment market by 2030, adding to the positive outlook for XRP.
- Some projections indicate that due to its extended consolidation period lasting nearly seven years, XRP could rally between $8 and $10, with further bullish scenarios pointing to a price of $25 or more.
- However, not all traders are convinced about XRP's future price, with concerns about a possible bearish pattern leading to a decline toward $1.33.
- Despite differing views, XRP was recently ranked as the most bullish cryptocurrency in a poll on CoinMarketCap, with 91.3% of participants agreeing on its strong potential to reach $5.
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