Analyst Says XRP Is About to Go Crazy. Here’s the Bullish Signal
Main Idea
Crypto analyst STEPH IS CRYPTO predicts a major breakout for XRP, citing similarities to Bitcoin's past bullish trend and improving fundamentals.
Key Points
1. XRP is following a trendline similar to Bitcoin's 2021 breakout, which could lead to a significant price surge.
2. Bitcoin's current price at $118,246.91 reinforces its bullish momentum, setting a positive tone for XRP.
3. XRP is trading at $3.04, consolidating below a key resistance zone ($3.20-$3.23), forming a symmetrical triangle pattern often indicative of a breakout.
4. On-chain data shows declining exchange balances and increasing institutional inflows ($190 million last week), suggesting accumulation by large holders.
5. XRP's fundamentals have improved, with Ripple's legal battle with the SEC nearing resolution and growing institutional demand, including anticipation of a U.S.-approved XRP spot ETF.
Description
XRP may be on the verge of a major breakout, and crypto analyst STEPH IS CRYPTO believes the charts are flashing a powerful signal. Drawing a direct comparison with Bitcoin’s trendline since 2021, the analyst pointed out that XRP is following a nearly identical path, one that could soon lead to an explosive move upward. Bitcoin’s Breakout Sets the Tone Bitcoin broke through a long-standing downtrend earlier this year, triggering a surge that pushed it past the $100,000 mark. As of report time, B...
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