Analysts have differing views on the price trend of XRP

XRP fell nearly 15% in October, mainly due to the U.S. Securities and Exchange Commission (SEC)'s appeal in the Ripple lawsuit. Some analysts believe this could be a buying opportunity.

Analyst CryptoBull pointed out that XRP's current price behavior is similar to the bull market trajectory in 2017. At that time, XRP consolidated within a symmetrical triangle pattern and then broke through with an increase of 66,240% to its historical high of $3.31. Currently, XRP is approaching the apex of a similar triangle structure; if it breaks above the ascending trend line, the target price could reach $23.40, an increase exceeding 4,200%. However, SEC's appeal may pose significant resistance for XRP's bullish setup; if they successfully prove that secondary sales of XRP violate US securities laws, XRP might break below its current symmetrical triangle's descending trend line. If there is a decline, the next target price would be $0.11 - a drop of 78.25% from current levels.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk; readers should conduct their own research when making decisions.