XRP Bull Rally About to Trigger 10x Rally, Could Reach $5!

Story Highlights

• As the regulatory cloud clears, XRP’s price shows significant strength compared to Bitcoin and Ethereum.

• The rebound momentum is gathering momentum and it is expected to trigger a massive rally to form a new ATH in the coming days.

XRP has taken center stage in the cryptocurrency market over the past few days since Judge Torres ruled in favor of Ripple.

The price has surged massively by more than 100% and despite a small decline, it continues to move closer to the medium-term target. In the short term, the price shows great potential for a bullish breakout and will consolidate above the $1 level in the coming days.

XRP price has been trading inside a symmetrical triangle pattern for the past few days and there are high speculations that this is decisive. In this case, if the price breaks out of the upper resistance of the triangle, then the chances of the price forming a new ascending triangle increase which could provide the required momentum to trigger a bullish breakout. After breaking out of the symmetrical triangle, the next target could be around $0.82 to $0.84

However, in the long run, there is a possibility that the price could soon rise by 500% to levels above $5.

Before the close of the previous week, XRP price broke out of a descending triangle, just like the breakout that preceded the 2021 bull run. After a long period of consolidation, the price is now showing great potential for longs in the coming days. The above mentioned are the upper targets of the FIB levels, while a breakout above the initial levels of $0.382 and $0.5 to $0.83 and $1.04 seems extremely important to establish a bull rally.

Now that the XRP price has moved higher after some nice growth in 2022, the remaining potential could be greater than expected. Ripple has seen some very good growth as it has entered the top 5 cryptocurrencies, gaining a huge market cap compared to its direct peers. Therefore, with the rally just starting to rise from a long period of consolidation, I believe the price will see some major moves in the coming days.