An analyst has pointed out how XRP could be targeting a breakout toward $15 if this pattern forming in its 1-week price chart is real.
XRP May Have Broken Out Of A Symmetrial Triangle
In a new post on X, analyst Ali Martinez has discussed about a long-term consolidation pattern that XRP may have been traveling inside until recently.
The formation in question is a Symmetrical Triangle from technical analysis (TA), which, as its name suggests, is shaped like a triangle. The pattern involves two trendlines within which the price consolidates, with a core feature being that these two levels approach each other at a roughly equal and opposite slope (hence the ‘symmetrical’ in the name).
The upper line of the triangle is made by joining together lower highs in the asset and the lower one by connecting higher lows. Just like with other consolidation patterns in TA, the former is likely to provide resistance and the latter support.
As the consolidation of the cryptocurrency co
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