Renowned cryptocurrency investor Armando Pantoja recently analyzed XRP’s price chart, drawing attention to the formation of a symmetrical triangle pattern, often associated with bullish momentum in technical analysis. Pantoja’s post on social media has generated significant engagement, with many traders and investors discussing the potential for XRP’s price to break out to $3.20-$4.
Some $XRP holders are crying about consolidation, when it's obviously forming a symmetrical triangle (bullish).
— Armando Pantoja (@_TallGuyTycoon) December 29, 2024
Breakout to $3.20-$4 will come out of nowhere. 💪🏽💯 #XRP pic.twitter.com/wAdPznO1aL
Symmetrical Triangle Pattern and Bullish Outlook
The symmetrical triangle is a well-known chart pattern characterized by converging trendlines, signifying a period of consolidation. According to Pantoja, this pattern typically resolves with a breakout in the direction of the prevailing trend. In XRP’s case, the previous bullish rally suggests the pattern could resolve with an upward move.
Pantoja’s post read, “Some $XRP holders are crying about consolidation, when it’s obviously forming a symmetrical triangle (bullish). Breakout to $3.20-$4 will come out of nowhere.” The investor’s analysis suggests that XRP’s current price action supports a potential breakout, with a price target between $3.20 and $4.
Community Reactions: Optimism vs. Skepticism
The cryptocurrency community responded to Pantoja’s analysis with mixed reactions. Some users expressed optimism, while others remained skeptical due to XRP’s past price behavior.
A commenter named Val questioned the pattern’s reliability, stating, “How many times has XRP formed a symmetrical triangle, only for the price not to rise as expected?” This sentiment reflects the frustration of long-term XRP holders who have seen previous patterns fail to deliver substantial gains.
On the other hand, RippleMeThis took a more positive view, commenting, “Crying with a $2 floor lol. They never would have lasted when it was $0.30.” This perspective highlights XRP’s significant price growth over time, underscoring the resilience of investors despite market volatility.
Looking Ahead: Optimism for ISO Tokens
Indika Torres added an optimistic note, suggesting that 2025 could be a pivotal year for ISO tokens, including XRP. These tokens comply with the ISO 20022 financial messaging standard, which is gaining traction among global financial institutions.
Current Market Context and Outlook
At the time of writing, XRP is trading at $2.09, experiencing a slight 2.55% decline in the past 24 hours. Despite this dip, market sentiment remains cautiously optimistic, with many traders eagerly awaiting the potential breakout from the symmetrical triangle.
Also Read: XRP Price Set for Major Rally: Experts Predict Surge to $11 in 2025
While technical analysis indicates a bullish scenario, investors are advised to remain cautious. Market conditions, regulatory developments, and macroeconomic factors can all influence XRP’s price movement. If Pantoja’s projection holds true, XRP holders may witness significant gains, potentially solidifying XRP’s place as a top cryptocurrency.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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