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Analyst Says XRP Will Catapult Once It Breaks This 8-Year Wall

XRP has entered a pivotal phase. The cryptocurrency is trading just below a resistance level that has remained unchanged for over eight years. Recent analysis by crypto analyst ChartNerd (@ChartNerdTA) highlights the potential for significant price movement if this barrier is breached.

Historical data suggest that when XRP breaks such multi-year resistance, the asset often experiences accelerated gains. According to the analyst, breaking this resistance is XRP’s entrance to Valhalla.

Historical Resistance Breaks

The chart shared by ChartNerd shows two notable resistance levels. The first, a multi-year resistance, was broken in 2017 after an extended period of price consolidation. Following this breakout, XRP surged considerably, rising to its previous all-time high.

This move indicates that overcoming long-standing resistance can trigger strong upward momentum. The chart suggests a similar pattern may occur with the current eight-year resistance wall. XRP already tested this resistance when it hit a new all-time high in July, and the breakout could be imminent.

The prior breakout illustrates the market’s tendency to compress prices for extended periods before producing a decisive move. In the earlier case, XRP’s price consolidated and volatility decreased until the breakout occurred. The pattern indicates that history could repeat itself if the current resistance level is surpassed.

Current Market Structure

XRP’s current price activity indicates consolidation just below the multi-year resistance level. ChartNerd highlights this barrier as the next key level to watch, noting, “Right now, there is an eight-year resistance wall that’s waiting to be broken.” The chart visualizes this resistance with a red line and marks potential areas of upward expansion with green ellipses.

The current consolidation resembles previous periods when XRP traded within tight ranges before significant upward movement. Price compression, combined with low volatility, often precedes substantial advances. Analysts observing the chart see this as a clear setup for a potential breakout.

An Imminent XRP Price Breakout

If XRP surpasses the multi-year resistance, the chart suggests strong momentum could follow. Historical data from prior resistance breaks indicate that XRP can experience rapid appreciation after clearing key levels. The analyst’s commentary emphasizes the importance of this next barrier, framing it as the primary focus for traders and investors.

XRP has shown a tendency to generate notable gains after clearing significant resistance. The current eight-year barrier represents the next critical test for the asset. Analysts and investors are likely to focus on price action near this level to assess the potential for continued upward momentum.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.


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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over seven years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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