Ripple (XRP) Giant Symmetrical Triangle Breakout Imminent as Brad Garlinghouse Hints at the Possibility of an XRP ETF by 2025

Since 2017, it has traded within a symmetrical triangle pattern defined by descending trendline resistance and ascending trendline support.

Ripple (XRP) price movements have been closely followed throughout 2024, with potential bullish indicators emerging on multiple timeframes. XRP’s technical setup and on-chain metrics suggest the possibility of a significant price increase in the coming months.

Here's a technical analysis of XRP's price action, highlighting key levels and potential catalysts for a XRP price surge.

Ripple (XRP) price analysis reveals the potential for a massive surge in the coming months, as indicated by several technical and fundamental factors. XRP price has been consolidating within a large symmetrical triangle pattern since 2017, with apex around August-September 2024.

Typically, this chart formation precedes a strong price movement, and the apex of the triangle apex suggests a potential breakout either way.

Currently, XRP price is facing resistance at the upper trendline of the triangle and attempting to pull back after failing to breach this resistance level on July 22. However, the price is still holding above the lower trendline of the triangle, indicating potential support at this level.

A pullback from the upper trendline could see XRP price move towards the apex of the triangle, currently around the $0.4 fib extension level ($0.44).

If the price manages to hold Fib 0.382, Fib 0.236, Fib 0.141, Fib 0.0769, Fib 0.05, Fib 0.0236, Fib 0.0141, Fib 0.00769, Fib 0.005, Fib 0.00236, Fib 0.00141, Fib 0.000769, Fib 0.0005, Fib 0.000236, Fib 0.000141, Fib 0.0000769, Fib 0.00005, Fib 0000236, Fib 0.0000141, Fib 0.00000769, Fib 0.000005, Fib 0.00000236, Fib 0.00000141, Fib 0.000000769, Fib 0.0000005, Fib 0.000000236, Fib 0.000000141, Fib 0.0000000769, Fib 0.00000005, Fib 0.0000000236, Fib 0.0000000141, Fib 0.00000000769.

If the price breaks out from the symmetrical triangle, the immediate target is $1.3. This Fib 1.382 Fib Extension Level coincides with a previous Fib 0.705 Resistance Level.

From there, the next potential resistance levelsFib 1.236 Fib Extension Level ($2.18), Fib 1.141 Fib Extension Level ($3.5), Fib 1.0769 Fib Extension Level ($8.57).

This potential Fib Extension setup is invalidated if XRP price closes a daily candle below Fib 0.382 Fib Extension Level ($0.23).

Potential XRP price Fib Extension targets were outlined by independent analyst Dark earlier in 2024, suggesting a highly optimistic outlook for XRP price.

XRP price analysis reveals a breakout from the 50-day and 200-day exponential moving averages (EMA), indicating potential upward momentum.

The 50-day EMA is currently acting as support at around $0.61, while the 200-day EMA is providing resistance at around $0.64. A breakout from the 200-day EMA could signal further bullish momentum for XRP.

On the weekly XRP price chart, the cross of the 50-day and 200-day exponential moving averages (EMA) is indicating potential bullish momentum.

The 50-day EMA is currently providing support at around $0.58, while the 200-day EMA is acting as resistance at around $0.64. A breakout from the 200-day EMA could signal further bullish momentum for XRP.

The relative strength index (RSI) on the weekly chart is rebounding off the 60 level, indicating growing buying pressure.

Another analyst, Rarara, highlighted the formation of a golden cross on the weekly XRP

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