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XRP started with a choppy price action Between the lower and upper ends of $ 2.195 and $ 2.25, respectively, in the past three days. Although XRP spent most of the past two-month correction from the peak price of $ 3.3 in January, the 2-month candle shows a strong green body, a sign that the bulls are still in control of the higher time of time despite the fluctuations in lower hours.
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Noteworthy, an accurate signal that has not appeared since the 2017 rally history of the XRP has returned, and the same trigger led to the 20x price explosion that year has returned.
The technical pattern shows the clear breakout structure in the 2-month time time
The technical examination of the XRP price action in the 2-month candle time chart shows that cryptocurrency is still trading in a bullish setup at a bigger time. This review, Crypto analyst shared The JD on the Social Media X platform, shows the XRP explosion from a long -term triangle pattern, which has held its price union since the 2018 peak.
The structure generated by this triangle Includes a flat resistance Trendline at the top and a gradual rising trend at the bottom. The XRP price performance in late 2024 saw it broken above the upper resistance trendline, similar to a similar setup in the first few months of 2017.
Interestingly, the price of XRP has destroyed above this trend with the belief, allowing it to reach a multi-year high of $ 3.3. However, the subsequent price action is the corrections to the corrections, along with the XRP that now trades near the price level of $ 2.
Despite this, the appearance of a bullish cross in RSI means a Bullish -setup is still actingCrypto analyst JD includes featuring a potential 20x Surge.
Stochastic RSI Cross above 80: The same spark from 2017
The appearance of a cross on the stochastic RSI above 80 levels makes the current bullish current. JD pointed out that the last time this crossover occurred was in 2017, before the XRP recorded 20X benefits for three months.
His chart describes this visual, showing a yellow highlight at the intersection point of the SRI lines during the historic breakout. The same cross is now confirmed on the 2-month chart.
The SRI cross occurs when the %K line crosses above or below the %D line within the stochastic RSI indicator. In the case of XRP, the bullish signal of the cross was reviewed above the 80 threshold in the 2-month chart. The last time this happened in 2017, the XRP went to a rally for four months from around $ 0.15 until it reached the current full time of $ 3.40.
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If a similar scenario is to open up, it will put the target around $ 45. This may seem unrealistic, Considering the flowers needed to reach this level. However, a rally from the recent SRI Cross can send XRP prices to new all-time highs.
At the time of writing, the XRP traded at $ 2.2.
Featured image from UNSPLASH, chart from tradingview
