As bullish momentum continues to engulf the crypto market, entry and exit points are proving essential.
As a result, leading analyst EGRAG CRYPTO has identified crucial zones that could present ideal buying opportunities based on the Symmetrical Triangle pattern.
Taking on X, formerly Twitter, the analyst pointed out, “As long as XRP maintains its Symmetrical Triangle Formation, consider these dips as buying opportunities.”
Based on this analysis, EGRAG CRYPTO believes that XRP might surge to the $22 level on the foundation of the Symmetrical Triangle, which has triggered higher and lower highs since 2017.
Nevertheless, the analyst highlighted that caution should not be thrown to the wind since the accumulation spree would only remain relevant if XRP remained in the confines of the Symmetrical Triangle.
XRP Continues to Paint a Bullish Picture
As XRP traverses the $0.52 zone, the fifth-largest cryptocurrency based on market value illustrates a positive long-term outlook.
XRP_Shark recently shared these sentiments. The market analyst noted, “Most liquidity sits at .35-.40 cents. And that liquidity is needed to make price move in the opposite direction. That’s why I believe chances are good.”
With XRP already sitting above the $0.50 zone, there is a high likelihood the crypto will continue enjoying bullish momentum.
XRP was up by 3.8% in the past week to hit $0.523 at press time, according to CoinGecko data.
On the other hand, Ripple is continuously making strategic moves in the cross-border payment field, and this paints a brighter picture for XRP, ZyCrypto previously reported.
Following the recent legal clarity in its case against the United States Securities and Exchange Commission (SEC), Ripple has renewed its optimism in the U.S. market, with one of the primary focuses being cross-border remittance.