XRP Shows 2017 Death Cross Signal Potentially Leading to $9 Price Target

XRP has rebounded from $2.08 to $2.4, marking over 15% gains after testing the $2 support level. Historical analysis suggests a potential breakout could target up to $9.

Technical Signals and Historical Patterns

A death cross appears on the XRP daily chart, indicating bearish sentiment as the 50-day moving average falls below the 200-day moving average. However, past performance in 2017 showed similar signals preceded significant price increases:

In 2017, XRP rose over 1,350% following a comparable death cross.
The current setup mirrors the 2017 descending triangle pattern before the bullish breakout.
Analysts suggest that a similar rally could push XRP to new highs at the 1.5 Fibonacci extension near $9, representing a 325% increase from current levels.

Current Technical Outlook

XRP’s technical indicators are neutral but optimistic:

RSI at 54.799 indicates room for growth before reaching overbought conditions.
MACD shows mild upward pressure at 0.197.
ADX is at 30.423, suggesting potential trend strength.

XRP is currently trading at $2.38. The bullish outlook hinges on sustaining institutional interest alongside the technical breakout.