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$XRP, the cryptocurrency associated with Ripple, has been locked in a lengthy period of consolidation, trading between $0.300 and $0.600 for the past seven years.
Despite a brief surge during the 2021 bull run that saw $XRP reach a three-year high of $1.9 in April, the token has since returned to its range, lacking the bullish momentum to overcome upper resistance levels.
However, some crypto analysts are now predicting a major uptrend for $XRP in the coming months, potentially propelling it to new heights.
Analysts Anticipate $XRP Breakout
A technical analyst using the pseudonym “U-COPY” on the social media site X (formerly Twitter) suggests that $XRP could experience significant movement between May 15 and August.
U-COPY points out that $XRP has been slowly moving up from its previous low at $0.46 and is nearing the end of a long triangle formation, which has been in accumulation since 2018.
The analyst believes that $XRP’s real potential will be revealed in the fully formed bull cycle, with the token possibly experiencing substantial growth by the end of the year.