This Pattern Identifies XRP’s Path to $7

 XRP Eyes $7 Rally Amid Symmetrical Triangle Breakout

Despite facing short-term bearish pressure, XRP could be gearing up for a significant rally to $7, echoing a historical price surge similar to its 2017 momentum.

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Short-Term Weakness Masks Long-Term Potential

As per Investing Scope, XRP recently saw a steep decline, almost dipping below $2, which signals waning short-term momentum. The token has struggled to break out of a tight consolidation zone that began after its January peak, frustrating bullish expectations.

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Technical Fractals Point Toward a $7 Surge

A June 5 TradingView analysis highlights a broader bullish picture. The monthly chart displays a symmetrical triangle breakout, resembling the price action observed between 2014 and 2017. Back then, XRP moved sideways before breaking out in late 2017, consolidated again, and ultimately surged to its all-time high in January 2018, just above the 1.382 Fibonacci extension.

Currently, XRP is showing a similar breakout structure just under the 1.0 Fibonacci level, suggesting a price projection of $7 based on historical patterns and Fibonacci fractals.

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Momentum Indicators Flash Bullish Signals

Supporting this bullish outlook is the monthly RSI (Relative Strength Index), which displays a repeating cycle of peaks. This pattern is consistent with previous long-term uptrends.

Additionally, XRP has decisively broken above its 50-month moving average, a level that historically shifts from resistance to support during major bull runs—another indicator that a rally could be underway.

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On-Chain Activity Fuels Speculation

Fueling speculation further, Ripple transferred $498 million worth of XRP to an unknown wallet on June 6. This move deviates from their usual escrow releases at the start of the month, raising questions about strategic accumulation or a potential market event.

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XRP Price Snapshot

As of the latest data, XRP trades at $2.18, posting a modest 0.1% daily gain but down 0.6% on the week. It remains below the 50-day simple moving average (SMA) of $2.29, signaling short-term bearishness. However, it stays well above its 200-day SMA of $1.91, reinforcing a long-term bullish trajectory.

The 14-day RSI sits at 45.25, indicating neutral momentum with no immediate overbought or oversold pressure.

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Conclusion

While the short-term outlook for XRP remains uncertain, historical fractals, key technical breakouts, and unusual on-chain movements are aligning to suggest a potential path to $7. If market sentiment shifts, this level could become a realistic mid-term target.

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