With the arrival of 2024, XRP has achieved a significant breakthrough, breaking free from a nearly seven-year downtrend and currently stabilizing in a price range above $3. This notable change has triggered widespread optimism among market participants.

A well-known analyst in the cryptocurrency space shared his latest views on social media. He believes that XRP has entered a new bullish phase, and the likelihood of a significant pullback has greatly diminished. Through technical analysis, he noted that XRP successfully broke through a descending triangle pattern that had been in place for several months and surpassed a key resistance level, briefly reaching a high of $3.6 before stabilizing around $3.19.

From the chart analysis, XRP has formed a solid horizontal support around $1.77, creating the bottom of a triangle. Despite multiple attempts to break through this resistance during the consolidation phase, XRP's price has remained relatively stable. The breakthrough of $3.6 at the end of July marked a significant change in XRP's technical trend, breaking the descending trend line that had constrained the price's upward movement since last December.

At the same time, analysts emphasize that, unlike previous market cycles, it is difficult for XRP to return to earlier lows. This means that the opportunity for low-price buying may have passed, and the current price level could become a new support point. Currently, XRP's trading price remains above $3.3, and the market's focus is on whether this level can become a solid support, thereby driving the price to create new highs.

As XRP breaks through key technical resistance, market expectations for its future performance are heating up. However, investors must remain cautious and closely monitor market trends and potential regulatory changes to make informed investment decisions.