XRP Price Set for Potential Surge Before Projected 90% Crash
XRP is showing signs of a potential bullish run, having reclaimed $2.2, with the next target at $2.3. A new technical analysis indicates that XRP may be on the verge of a significant price movement, reminiscent of its 2017-2018 market cycle.
Key Points
- An analyst highlights a hidden bullish divergence on the Stochastic RSI indicator, similar to signals from previous surges.
- XRP has broken out from a multi-year symmetrical triangle pattern, suggesting further upward movement.
- The projection indicates possible price levels reaching as high as $17.
- A warning accompanies this optimism; past rallies resulted in dramatic crashes, with a potential drop of up to 90% following any peak.
- The current consolidation within a triangle will determine the short-term direction, with a break above $3 needed to confirm a parabolic move.
- XRP's current trading price is $2.28, reflecting a 2.4% increase in the last 24 hours.
