XRP Testing Multi-Year Trendline
The native token of the XRP Ledger, $XRP, is currently testing a multi-year trendline in an occurrence that could see its price surge between 39x and 650x within a year.
Recent Update by a Cryptocurrency Analyst
Analyst Jaydee recently shared with his followers on Twitter that XRP tested its 10-year trendline in the last two occurrences.
XRP Price Struggles to Recover
The price of the cryptocurrency has fallen by more than 11% over the past month and over 19% over the last six months.
Bullish XRP Price Predictions
Other analysts are making bullish XRP price predictions, with one suggesting that investors should see XRP price dips as “buying opportunities,” projecting that the cryptocurrency will surge to $22.
XRP Symmetrical Triangle Pattern
A specific symmetrical triangle pattern in 2017 is leading to potential bullish movement if XRP breaks the pattern with an upward movement.
Largest Amount of XRP Circulating Supply
Large XRP token holders now control 67.2% of the cryptocurrency’s circulating supply, the largest amount since December 31, 2022.
Decline in XRP linked to Personal Accounts
A price drop in XRP occurred shortly after Ripple Chairman Chris Larsen confirmed that over $120 million worth of the cryptocurrency were taken from his personal XRP accounts.
XRP Ledger Approves Automated Market Maker (AMM) Trading Platform
The XRP Ledger has approved the launch of a built-in automated market maker (AMM) trading platform into the ledger, allowing $XRP token holders to earn income on-chain.
Hot Take
If you have investments in XRP, now might be a good time to examine market trends and patterns to determine your next best move.
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