Crypto analyst Jaydee has recently highlighted a historical pattern that suggests that the XRP price might experience one parabolic movement soon enough. If history is anything to go by, it is believed that XRP has the potential to see a 4,000% increase when this pattern eventually forms.
XRP Price Tests of 10-Year Trendline
Jaydee revealed in an X (formerly Twitter) after that the XRP price was currently testing a 10-year trendline. This move is significant because the analyst noted that XRP saw price increases of 39x and 650x the last two times this trendline was tested. Specifically, the 650x increase came in 2017, which happens to be a remarkable year for XRP.
Various analysts have referenced 2017 in their XRP analysis, suggesting that 2024 could reflect this in some way. Jaydee had indeed done that alluded to until 2017 in one of his earlier XRP analyzes where he noted that a symmetrical triangle that formed then had returned to the charts. He suggested that the bullish pattern could trigger another parabolic move like the one in 2017.
Meanwhile, Jaydee revealed in a more recent version X message that despite the lukewarm price action of crypto token. The analyst advised his followers to “stop timing the bottom” while they can simply buy the consolidation phase. He continues hinted that a move to the upside could be imminent, stating that the weekly RSI looks like a “hidden bullish divergence.”
A buy signal on the XRP charts
Crypto analyst Ali Martinez mentioned in a X message that the TD Sequential indicator signaled a buy on the weekly XRP chart. According to him, this indicator further suggests that the XRP price is “poised for a one to four week rebound.” Interestingly enough, this coincides with crypto analysts Crypto Rover’s prediction that XRP could experience a “massive breakout” by March.
Then, Crypto Rover’s chart analysis hinted that XRP would rise as high as $1 when this move to the upside occurs. However, it remains uncertain whether or not XRP will be able to maintain that bullish momentum in an effort to please crypto analysts Eggar Crypto’s Prediction that XRP will rise to $5 in April.
Egrag said the $5 range would only mark the “first wave 1 of a long-term bull market.” The analyst also stated this different occasions that XRP could rise to $27 in the next bull run.
At the time of writing, the XRP price is trading around $0.5, down in the past 24 hours, according to facts from CoinMarketCap.
XRP bears reclaim control | Source: XRPUSD on Tradingview.com
Featured image from Coinpedia, chart from Tradingview.com
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