XRP Poised for Liftoff: $9 or Even $24 on the Horizon?
Main Idea
Analysts highlight a bullish crossover between XRP's 21 EMA and 55 SMA, suggesting potential significant price surges based on historical patterns, with current consolidation indicating possible future rallies.
Key Points
1. Every bullish crossover between XRP’s 21 EMA and 55 SMA has historically preceded major price surges, such as a 40,000% surge in 2017 and a 750% pump in 2020.
2. The current bullish crossover in October 2024 suggests potential rallies of 1,500% (to $9) or 4,000% (to $24), based on historical patterns.
3. XRP recently hit a historic high of $3.65 after 7 years but has since pulled back to the $3.12 zone, with analysts remaining bullish on its future performance.
4. XRP's open interest (OI) recently reached a record $3.9B on Binance, indicating significant speculative activity and trader confidence amid a range-bound price environment.
5. Analyst Vlad Hryniv notes XRP is consolidating tightly between $3.00 and $3.20, which could signal a looming liquidation-driven price movement.
Description
Key Insights From 21 EMA and 55 SMA According to EGRAG CRYPTO, every bullish crossover between XRP’s 21 exponential moving average (EMA) and 55 simple moving average (SMA) has triggered massive rallies. In March 2017, the crossover preceded a 40,000% surge, while the August 2020 signal delivered a 750% pump before peaking. Drawing from past cycle patterns, the analyst projects two potential targets for XRP that is a 1,500% rally, which is twice the 2020 surge, peaking at $9, or a more bullish 4,...
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