XRP Shows Strongest Macro Bull Trend in History: Analyst

XRP is experiencing its strongest long-term bullish trend, as noted by chartist "The Great Mattsby" using the three-month Ichimoku system. This system shows a year-long base forming above key quarterly averages.

Key Observations

The XRP/USD price on Bitstamp is around $2.31, with the Ichimoku conversion line and baseline just below this level.
Historically, quarterly closes failed to hold above these Ichimoku lines after rallies, but the current cycle shows stability above them for multiple quarters.
XRP has been consolidating between the 0.886 Fibonacci retracement ($2.25877) and its 2018 all-time high ($3.31700).
This consolidation indicates a strong base formation, maintaining a posture labeled as "#Palantiring candidate" by the analyst.

XRP price

Price Targets

If XRP reclaims and holds above $3.31700, potential upside targets are $8.29661 (1.272 extension), $13.38940 (1.414), and $26.63038 (1.618).
Support levels below $2.25877 include $1.61246 (0.786), $1.12487 (0.702), $0.91531 (0.618), $0.61495 (0.500), $0.41315 (0.382), and $0.25257 (0.236).

Overall, XRP's price action reflects accumulation rather than distribution, confirming the strength of its current macro bull trend according to Ichimoku analysis.

At the time of reporting, XRP trades at $2.56.