The XRP price might be on the cusp of another significant rally after soaring in September
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
The XRP cryptocurrency might be in the process of “loading a moonshot,” according to the pseudonymous trader and investor Crypto Rand.
The token’s potential rally would make “everyone cry,” according to the popular chartist.
A price chart shared by Crypto Rand shows that the XRP token appears to have formed a symmetrical triangle. Such patterns typically form during periods of consolidation. The direction of the ongoing trend is to the upside, which is good news for the bulls.
The XRP price is up 5.66% over the past 24 hours, according to data provided by crypto data site CoinMarketCap. The cryptocurrency is changing hands at $0.48 on major spot exchanges.
As reported by U.Today, the XRP token experienced a significant rally last month amid fresh speculation surrounding Ripple’s ongoing battle with the U.S. Securities Commission. In September, both parties filed motions for summary judgment.