XRP trading volume is up over 111%. This is because traders point out an interesting pattern on the chart.
XRP is getting closer to a breakout
Crypto analyst Mr. Huber tweeted about the pattern. He pointed out that XRP is in a steady downtrend. This is evidenced by the fact that the coin has closed its 12th red candle in a row, which was last seen in March 2015. The chart also shows a triangle pattern, with the price becoming less and less volatile as time goes on. This provides a visual representation of a fight between bulls and bears until one side gives in and a breakout ensues.
As this pattern gets closer to completion, a breakout will soon follow. This can lead to a huge price increase or decrease. Exactly this is why the volume skyrockets.
“Ripple is going to win the lawsuit”
Earlier, attorney James K. Filan predicted that the judge would issue a written ruling on or before March 31, 2023, as reported by Newsbit. After years of litigation, the case is finally coming to an end, sparking excitement among traders.
Crypto trader Mr. Huber expects at least a win for Ripple. He writes: “For me personally, there is no way XRP will be considered a security [..] Perhaps Ripple will be fined. But it will be a huge win.”
If the crypto analyst’s prediction comes true, it could cause a huge XRP price explosion.
