With the structural price similarities and consolidation patterns, XRP can consolidate with a price target of a conservative $8-10 following the rise of ZEC.
XRP is set to experience a significant rise, which can be compared to the recent spectacular rise of Zcash (ZEC).
The current analysis indicates a conservative price target of between $8 and $10 due to the presence of strong structural trends in the price movements of XRP, which follows the breakout history of ZEC.
Intriguing Parallels in Crypto Price Behavior
According to recent charts, the movements in the price of XRP are creating long-term consolidation patterns similar to those of ZEC prior to its breakout.
Source – X
These two assets underwent prolonged sideways trading against resistance and then a sudden upward break.
The ongoing XRP range-bound activity above the major resistance levels is an indicator of a possible imminent upward resolution.
The prior performance of ZEC is an important benchmark, as it soared approximately 60 percent within a week and 75 percent in a month.
The trend of XRP indicates such a buildup and indicates that a similar bullish extension could happen in a more gradual manner than a sudden burst.
This price movement model gives XRP a conservative price between $8 and $10 in case the breakout is decisive.
Market Response and Diverse Opinions
There is a mixed reaction to this forecast by communities. Others disapprove of the intrinsic value of XRP subject to other cryptos, whilst others highlight the regulatory clarity that XRP has earned, and which may lead to more institutional buying.
The divergent responses reveal the current controversy between pure technical perspectives and those that place greater emphasis on fundamentals.
The validity of the projection depends upon XRP breaking out and maintaining the level of higher trading.
Its execution will rely on market liquidity, wider circumstances, and movement in the digital asset space.
Nonetheless, the comparative analysis of the structure of ZEC provides a clear explanation of the bullish outlook in the medium term.
This discussion highlights the importance of XRP as a price structure of interest, given the current technical positioning that projects optimism based on previous price formation patterns observed in major altcoins.
The post XRP Price News: XRP Set to Echo ZEC’s Breakout: $8-$10 Target In Sight appeared first on Live Bitcoin News.