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Sujit Kumar
Apr 2, 2024
by Sujit Kumar

Analyst Forecasts Bullish Momentum for XRP and XLM

Bullish Momentum for XRP and XLM

Table of contents

  1. Prolonged Consolidation Phase
  2. Chart Analysis Signals Opportunity
  3. Anticipated Breakout Targets
  4. Ambitious Long-Term Outlook
As the Bitcoin Halving approaches, a prominent technical analyst, Charting Guy, anticipates a noteworthy shift in the XRP and Stellar (XLM) markets, signaling a potential breakout.

Prolonged Consolidation Phase

Charting Guy highlights that both XRP and XLM have been locked in a consolidation phase for six years, leading many to perceive them as stagnant or "dead coins." Despite prevailing sentiments, the analyst remains focused on technical indicators rather than market narratives.

Chart Analysis Signals Opportunity

Employing chart analysis, Charting Guy identifies a symmetrical triangle formation in both assets, characterized by higher lows and lower highs. This pattern suggests an imminent breakout point, offering an opportunity for investors to capitalize on potential gains.

Anticipated Breakout Targets

According to the analyst's projections, XRP and XLM are primed for substantial price movements, with breakout targets ranging between $10 to $13. This projection represents significant upside potential, with gains potentially reaching 20X (2000%).

Ambitious Long-Term Outlook

While Charting Guy's analysis indicates immediate breakout targets, he also offers a more ambitious long-term outlook. For XRP, he foresees a potential breakout target of $38, although he acknowledges this may not materialize in the current market cycle. However, he remains optimistic about the possibility of XRP reaching a three-digit value within the next decade.

Disclaimer:The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss. 
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Bullish Momentum for XRP and XLM
Analyst Forecasts Bullish Momentum for XRP and XLM
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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