XRP, Eyeing Another 1,100% Rally Opportunity..."7 Years of Silence Have Ended"

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Optimistic forecasts are pouring in that XRP, having strongly broken through a multi-year long-term sideways trading range, could replicate its past record-breaking surge.

According to crypto media outlet NewsBTC on April 10 (local time), XRP recently broke out of a large symmetrical triangle pattern on its technical charts, entering a new bull market. Crypto analyst EGRAG CRYPTO analyzed that XRP has a high probability of reaching the $17 mark primarily through this rally. The analyst emphasized that market movements similar to those in 2017 are being observed, signaling the beginning of a massive trend change beyond a mere rebound.

According to technical analysis, XRP is currently breaking down key resistance levels of Fibonacci retracement lines one after another. EGRAG CRYPTO predicted that XRP could achieve explosive growth of over 1,100% from its current price. In particular, the breakthrough of the long-term trend line observed on the monthly chart is interpreted as a strong signal indicating a massive inflow of institutional funds. Past data showing sharp price increases following such breakthroughs adds strength to this optimistic outlook.

Currently, XRP is strongly testing the $1.40 resistance level, and if this point turns into support, the upward momentum is expected to accelerate further. If it successfully establishes itself above $1.40, the next target prices could be adjusted upwards to $2 and then $5. Conversely, if the upward momentum weakens, the $1.20 support level is expected to become a critical zone for defending against downside. Market participants are paying close attention to XRP's trajectory, which, while synchronized with Bitcoin (BTC)'s movements, has also secured its own independent upward momentum.

Crypto market experts analyze that this bullish trend for XRP is not just a technical rebound but is also intertwined with the expansion of institutional adoption. Improvements in the regulatory environment, such as the push for cryptocurrency market structure legislation in the US, are positive factors that enhance the utility of the XRP Ledger. Furthermore, the entry of major financial institutions into the crypto market is leading to a re-evaluation of utility-focused assets like XRP. These external environmental changes are expected to provide strong support for XRP as it moves towards its target price of $17.

In conclusion, XRP has broken through long-term technical suppression and entered a new price discovery phase. The extraordinary forecast of a 1,100% surge is based on analyses of past explosive rallies and is garnering significant market anticipation. Investors are closely monitoring the breakthrough of key resistance levels in real-time, watching for the possibility of XRP setting new historical highs.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*