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XRP May has started With intermittent work Between the lower and higher ends of $ 2.195 and $ 2.25, respectively, in the past three days. Although XRP has spent most of the past two months correcting the peak price of $ 3.3 in January, the candle candle for two months shows a strong green body, a sign that the bulls are still controlling the higher time frames despite the fluctuations on the minimum time frame.
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Interestingly, the exact sign that has not appeared since the return of the historic XRP gathering for the year 2017, and the same operator that led to the explosion of the price of 20x that year.
The artistic style shows the intention of a clear penetration process on the timeline for two months
Technical analysis of the XRP price procedures on the two -month -long -month -shaphing framework scheme is that the cryptocurrency is still trading in a bullish preparation on a larger time frame. This analysis, Participated by the encryption analyst JD explains on the X social media platform, that XRP starts from a long -term triangle style, which has received its price in unification since the peak of 2018.
The structure that this triangle formed It includes flat resistance The trend line is on top and gradually height of the trend line at the bottom. The performance of the XRP price in late 2024 saw that it exceeded the top resistance direction line, as happened in a similar setting in the first few months of 2017.
It is worth noting that the price of XRP was broken over this trend line with the condemnation, which allowed it to reach its highest levels throughout the year 3.3 dollars. However, the price procedure that followed is corrections when corrections, as XRP is now trading near the price level of $ 2.
Nevertheless, the emergence of a bullish cross on the relative strength index means a The bullish preparation is still under implementationWith JD encryption analyst highlighting a possible 20x increase.
RSI Sochastic RSI above 80: The same spark of 2017
The appearance of a cross on the random power index above the level of 80 makes the current upward preparation more convincing. JD pointed out that the last time this intersection occurred was in 2017, before XRP recorded a 20x in three months.
This scheme is visually explained, as the yellow highlight appears at the intersection point of SRSI lines during this historic penetration. The same cross has now been confirmed on the graph for two months.
The SRSI cross occurs when the % K line crosses higher or less than the line of % D inside the random RSI index. In the case of XRP, the ups of the upper signal of the cross is examined over the 80th threshold on the graph for two months. The last time this happened in 2017, XRP went in a rally over a period of four months from about $ 0.15 until it reached its highest level at $ 3.40.
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If a similar scenario is revealed, this will put the target about $ 45. this It may seem unrealistic, Looking at the flows You need to reach this level. However, a gathering of the last SRSI cross can send the XRP price to its highest level ever.
At the time of this report, XRP is traded at $ 2.2.
Distinctive image from Unsplash, tradingvief chart
The post XRP Price Cross That Led To 20x Rally In 2017 Has Returned first appeared on Investorempires.com.
