Mantra price is still in a consolidation phase over the past couple of months as the increase in 2024 has lost steam.

mantra (on), a popular cryptocurrency in the real-world asset tokenization industry, is trading at $3.90. It is still 15% below its 2024 high.

Technicians point out that Mantra has formed a chart pattern similar to Ripple (XRP), the third largest cryptocurrency in the industry.

The daily chart below shows that Mantra moved vertically in November before entering a consolidation phase, forming a symmetrical triangle pattern. This pattern is commonly referred to as a bullish flag and is one of the most common bullish continuation signals in technical analysis.

Therefore, the mantra may become parabolic now that the two lines of the triangle pattern are approaching convergence. If this happens, the next potential target to watch would be the all-time high at $4.6265. A move above this level could indicate further gains, perhaps to $5, followed by $7.42, which is the upper limit of the Fibonacci extension.

The price of XRP has formed a similar pattern

Mantra's price action is notable because it closely resembles that of XRP, which has also become parabolic. Like OM, XRP saw a sharp rise in November, reaching a yearly high of $2.90. It then entered a consolidation phase, forming a symmetrical triangle pattern, before making a strong comeback this week and rising to a high of $3.40.

The price of XRP rose after media reports indicated that the Securities and Exchange Commission is considering changes to its approach to cryptocurrency regulations. Reports also indicate that the SEC may temporarily halt some enforcement actions, a move that could benefit Ripple.

In another report, Donald Trump said he was open to creating a file Cryptocurrency reserves consist of US cryptocurrencies such as XRP And Cardano.

Potential triggers for price mantra

Mantra, like XRP, also has several potential catalysts that could push its price significantly higher in the near term. Firstly, it is one of the highest yielding coins in the cryptocurrency industry, offering a yield of up to 5.79%. This staking yield exceeds Ethereum's 3.13%.

Second, Mantra is a leading player in the RWA industry, which analysts expect will attract trillions of dollars in assets over the next few years. newly, Mantra has partnered with DAMACa major real estate company in the United Arab Emirates. As part of the deal, Damac will use the Mantra Network to tokenize its real estate portfolio.

Mantra too In partnership with MAGanother major real estate company in the Middle East, is working on additional partnerships. Moreover, Mantra's price may rebound as it continues the strong rally seen in 2024.