Analyst Warns of Final Phase in XRP Bull Cycle. Here’s What is Coming
Main Idea
An analyst warns that XRP may be entering the final phase of its bull cycle, with potential for significant upside but also caution near key resistance levels.
Key Points
1. The Altcoin Season Index is at 39, indicating that altcoins, including XRP, are still undervalued and have room for growth.
2. XRP has been trading around the $3 mark, attempting to establish it as a support level; breaking above this could lead to a strong upward move.
3. Historical RSI patterns suggest caution near the $4.50 to $5.00 range, as previous overbought levels led to significant drops.
4. The analyst believes the bull run may be entering its concluding phase, marked by rapid movements, but warns that a market top may be near.
Description
Crypto analyst Steph Is Crypto has issued a technical update on the state of the XRP market, warning that while significant upside may still be ahead, investors should be aware that the current cycle may be entering its final phase. In a detailed video shared on social media, Steph examined multiple indicators, focusing on both bullish and bearish scenarios, and underlined the importance of watching key historical metrics. Steph began the analysis by referencing the Altcoin Season Index, a tool ...
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