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As bullish momentum continues to envelop the cryptocurrency 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 he pointed, โAs long as XRP maintains its symmetrical triangle formation, consider these dips as buying opportunities.โ
Based on this analysis, EGRAG CRYPTO believes that XRP could rise to the $22 level based on the Symmetric Triangle, which has caused increasingly lower highs since 2017.
However, the analyst stressed that caution should not be thrown aside, as the wave of accumulation would only remain relevant if XRP remained within the limits of the Symmetric Triangle.
ย ย XRP continues to paint a bullish picture
As XRP breaks through the $0.52 zone, the fifth-largest cryptocurrency by market value illustrates a positive long-term outlook.
XRP_Shark recently shared these sentiments. The market analyst noted, โMost liquidity is between 0.35 and 0.40 cents. And that liquidity is necessary for the price to move in the opposite direction. That's why I think the chances are good."
Since XRP is already above the $0.50 zone, there is a high probability that the cryptocurrency will continue to enjoy bullish momentum.
XRP rose 3.8% last week to reach $0.523 at press time, according to CoinGecko Data.
On the other hand, Ripple is continually making strategic moves in the field of cross-border payments, and this paints a brighter picture for XRP, formerly ZyCrypto. reported.
Following the recent legal clarity in its case against the US Securities and Exchange Commission (SEC), Ripple has renewed its optimism in the US market, with one of the main focuses being cross-border remittances.
