Positive Metrics Align for Ripple (XRP) Bullish Continuation: Expert Predicts Spike to $8

Ripple's XRP is not slowing down, with the price increasing by around 80% last week. The bullish move has continued to gain this week, and it doesn't look like it is stopping soon.

Crypto expert Armando Pantoja predicts a bullish continuation for Ripple (XRP), with potential for a spike to $8.

A confluence of factors is converging to support XRP's price ascent, including Gary Gensler's impending departure from the SEC.

Technical analysis reveals a breakout from a symmetrical triangle, strong bullish MACD, and significant volume spikes, indicating a potential price surge.

Ripple's XRP token has been on a bullish trajectory, showing a remarkable price increase of about 80% last week. This week, the positive momentum has continued to drive the XRP price higher, reaching new heights.

For the first time in three years (since November 2021), XRP has hit the crucial $1.20 price level. These positive developments in the XRP market have created a lot of excitement within the crypto community.

Pantoja, who is also a member of the Benzinga Crypto Advisory Board, has been closely following the XRP price action and recently shared his thoughts on the matter. He expressed enthusiasm for the upcoming price movements, which he believes will be significant.

According to the crypto analyst, several factors could contribute to XRP's growth, potentially reaching as high as $8 during a price spike.

The first factor is related to Gary Gensler, the current SEC chairman, who is expected to resign or be removed from his position. This news has been circulating for a while, with rumors of his departure being included in Donald Trump's campaign promises, vowing to fire Gensler on his first day in office.

Gary Gensler is on his way out, and $XRP is 100% about to break out.

Last time we saw this pattern: symmetrical triangle, bullish MACD, volume spike—it went from pennies to $3.

Target $8-$30.

Ignore $XRP under $1, but don’t say we didn’t warn you. #XRPArmy Repost this! pic.twitter.com/CsL8wuBg0n

The news of Gary Gensler leaving the SEC has sparked excitement among many in the crypto industry, who have been critical of the SEC chairman's stance on digital assets. This could also pave the way for a resolution in the ongoing legal battle between the SEC and Ripple, in which Gensler's involvement has been key.

In terms of technical analysis, the analyst highlights a confluence of factors that could propel XRP's price upwards.

The first is a breakout from a symmetrical triangle, which occurred last week, and as the price broke out, it began to spike rapidly, fueled by bullish momentum.

The MACD indicator is also showing a strong bullish signal for the token, and there are significant volume spikes, as evidenced by the height of the symmetrical triangle histogram.

The expert points out that the last time a similar setup occurred, the XRP price ascended from pennies to reach $3. These factors have led the analyst to conclude that trading XRP below $1 is unlikely, and he anticipates a spike to around $8-$30.

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