Expert market watchers believe XRP is again attempting to crack its seven-year symmetrical triangle formation amid an ongoing bullish frenzy.

XRP has been stirring significant sensation in the crypto market over the past few hours as the long-running lawsuit ended in what many view as a favorable manner for Ripple.

As of the latest update, XRP ranks as the third most heavily traded cryptocurrency, excluding stablecoins. Its 24-hour trading volume exceeds $5.42 billion, placing it just behind market leaders Ethereum and Bitcoin. Notably, the current volume marks one of the highest trading volumes observed in recent months.

XRP briefly reached $0.6408 before stabilizing around $0.61, fully recovering from the Monday crypto market bloodbath. In light of this performance, analysts are revising their forecasts, anticipating a continued uptrend for XRP amid the recent bullish developments.

XRP Attempting Breakout from 7-year Triangle Again

According to Dom, a seasoned market analyst, the time has finally come for XRP to shine now that the nearly four-year legal battle is behind it.

Doom observed that XRP attempted to break out of its seven-year triangle pattern today following the recent surge in price. He emphasized that full acceptance above the $0.65 mark is crucial for XRP to break free and reach new heights.

The accompanying chart highlighted past instances where XRP initiated “false breakouts” just before a significant uptrend commences.

XRP chart by Dom

XRP Set for “Generational Run”

Popular analyst Javon Marks echoed similar sentiments, highlighting that XRP has re-entered breakout territories. The commentary updated an earlier analysis in which Marks noted that XRP had briefly broken out, but it was only an attempted breakout.

Upon examining the price action and RSI, he identified bull divergences that suggest a successful bullish breakout may be imminent. According to Marks, this time, prices may sustain a successful bullish break, potentially sparking a “generational price run.”

Notably, Marks’ prediction of a generational price run is based on his expectation that XRP could soar by over 42,000% from its current level to above $250.

He believes the conservative breakout targets for XRP could be in the range of $15 to $18, which would also be unprecedented price levels for XRP. Notably, this threshold also demands a formidable surge of nearly 3,000%.

While Marks has encountered resistance for his ambitious price suggestions for XRP, he continues to take solace in the statement widely attributed to Nelson Mandela that “It always seems impossible until it’s done.”