Just saw an interesting analysis about XRP after its price dropped to $1.11 earlier this month. It seems that the symmetrical triangle retest has been successful, with the price now recovering to $1.42.

The story behind this is that XRP has fallen more than 61% from its peak of $3.66 reached in July of last year. It appears that the breakout from the triangle pattern in November 2024 was a correct signal, as this decline was merely a natural retracement to test the strength of the breakout.

What’s interesting is that once XRP successfully tested the upper trendline of the triangle, it immediately rebounded. According to XRP Captain’s analysis, who seems to have been following this pattern for a while, the Fibonacci extension target now points to $19.4, which would require an increase of over 1,266% from the current level. The first target was $5.00. Nonetheless, this is just a market observation; the crypto market remains highly risky.