XRP (XRP) price has recovered by almost 30% in the last two weeks, led by a crypto market rebound, and Ripple’s long-running legal battle against the US Securities and Exchange Commission (SEC) comes to an end.
XRP/USD daily price chart. Source: TradingView
The cryptocurrency’s rebound is also occurring inside the confines of a classic bullish continuation pattern, promising further gains in the coming weeks.
XRP symmetrical triangle puts 75% rally in play
XRP’s bullish technicals appear as it forms what appears to be a symmetrical triangle pattern.
A symmetrical triangle is considered a classic bullish continuation setup that forms after the price consolidates inside a range formed by converging trendlines after a strong uptrend.
As a rule of technical analysis, the setup resolves when the price breaks above the upper trendline, potentially rising as high as the length of the