CryptoBull Forecasts XRP Rally to $7–$8 in Coming Weeks
Crypto analyst CryptoBull (@CryptoBull2020) sees XRP poised to more than double to $7–$8 within weeks. His technical analysis highlights a months-long rounded bottom from January through August, capped by a symmetrical triangle pattern near the $3 level on the daily Bitstamp chart. XRP currently trades above its rising 200-day moving average, supporting a bullish continuation thesis. A confirmed breakout above the triangle’s upper trendline, ideally on rising volume, would target prior highs and pave the way toward the $7–$8 zone based on measured-move logic. Key risk lies in a daily close below the triangle’s lower boundary and the 200-day average, which would invalidate the bullish setup. Traders are advised to watch for a clear breakout signal and volume confirmation, while maintaining strict risk controls around the $3 support area.
Bullish
CryptoBull’s call is rooted in a clear bullish continuation pattern: a rounding bottom leading into a symmetrical triangle above the 200-day MA. Historically, assets that break out of such consolidation patterns on volume often realize measured-move targets that exceed twice their consolidation apex. The tight timeframe and specific $7–$8 target reflect confidence in short-term momentum, making this a bullish catalyst. If validated by a daily close above the triangle’s upper trendline with increased turnover, XRP could see accelerated buying, mirroring past breakouts in Bitcoin and Ethereum. Conversely, a drop below the triangle’s lower boundary would negate the setup. Overall, the news skews bullish by outlining precise entry triggers, risk thresholds, and a clear upside target.