Analyst Says XRP Breakout Will Be Massive and You Will “Lose Your Mind”

Crypto analyst Amonyx (@amonbuy) has shared a compelling perspective on XRP’s price movement, emphasizing a potential historic price breakout.

In a recent post, Amonyx declared, “The breakout will be massive, and you will lose your mind,” captioning a detailed price chart.

The chart shows a critical resistance level at approximately $3.30, which the digital asset has only reached twice—in 2018, when it reached an all-time high of $3.84, and in January, when it hit a multi-year high of $3.39. Amonyx suggests that XRP is on the verge of a major bullish move.

The chart identifies a consolidation phase from early 2017 before XRP surged to its all-time high. A similar pattern appears to be forming, with the price stabilizing below the $3.30 resistance. The timeframe marked on the chart is 38 bars, or 114 days. This further supports the idea that the asset may soon attempt to break past this level.

XRP Whales Positioning for the Next Move

Adding to the bullish sentiment, reports indicate that large XRP holders are preparing for a significant price move. Whale activity has been increasing with substantial accumulation, suggesting confidence in an imminent price surge. Historically, such movements by large investors often precede strong price breakouts, aligning with Amonyx’s projection.

XRP whales have been actively increasing their holdings, and their movements often dictate the behavior of retail investors and the market’s direction. This pattern occurred before major market upswings, further reinforcing the likelihood of a breakout.

Technical Patterns Indicate a Breakout

Another key technical factor pointing toward a bullish scenario is XRP’s symmetrical triangle formation. A notable analyst recently outlined how this pattern could lead to a major move. This pattern typically precedes a breakout, and with XRP nearing its long-term resistance, the setup aligns with Amonyx’s forecast.

The symmetrical triangle indicates consolidation before a sharp breakout either upward or downward. Given the whale accumulation and the historical resistance level identified in Amonyx’s chart, an upward breakout appears more probable.

Awaiting the Catalyst for XRP’s Rally

Despite the promising technical signals, many XRP holders still anticipate a key fundamental catalyst that could drive prices higher. While the U.S. Securities and Exchange Commission (SEC) has agreed to drop its appeal against Ripple, many in the community are waiting for an official announcement, anticipating a huge bullish move once this announcement is made.

If such a catalyst emerges while XRP tests its resistance, the breakout Amonyx predicts could become a reality much sooner.

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 urged to do in-depth 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.

---

Follow us on X, Facebook, Telegram, and  Google News