Categories: Blockchain

Assess the possibility that XRP will soar to $ 4 in the next 2 weeks

The cryptocurrency market in general is showing strange things right now. The correlation of the Bitcoin price with altcoins like ETH and ADA collapsed. While the long-term bullish structure remains intact for most, there seems to be panic over BTC’s recent plunge to $ 60,380.

At XRP, however, the trend could explode in the next few weeks. Especially since a new all-time high is coming soon.

XRP: are daily and weekly charts strong enough?

Source: trade view

In a previous article, we discussed consolidating XRP in a symmetrical triangle pattern towards a bullish breakout. However, on October 27th, the price moved down.

At the time of writing, the decline could be viewed as gaining momentum as the price immediately rebounded and the XRP surged above $ 1.1 within a week. Technically, the daily candle closed above the exponential moving average of 20 (EMA-20) in 3 days, showing strong bullish momentum.

Based on the above structure, the weekly chart shows a perfect path for XRP.

Source: trade view

Fractal patterns (patterns that have now emerged repeat themselves) over time often indicate the direction of movement, and the most recent patterns in XRP are bullish. As seen above, XRP’s weekly chart hit similar local tops / bottoms and positive symmetrical triangle breakouts during Q1 / 2021 and Q4 / 2021.

The only missing part of the continuation table is the return of the explosive movement. These brought XRP to $ 2 in April 2021. A similar development will push XRP slightly above $ 3 and likely to $ 4 in the next few weeks.

The path for XRP is only through commissions?

Social volume | Source: Santiment

One factor that doesn’t support the $ 4 price prediction is the lack of social volume. There was a high level of commitment to XRP in the first quarter of 2021. However, this is not currently clearly stated.

According to the graph, the social volume is nothing special. This shows a lack of retail interest, or in other words, that the public is not overly enthusiastic about XRP.

XRP Prize DAA Divergence (pink) | Source: Santiment

However, activity in the chain is not a cause for concern. A week ago there was a clear bullish divergence between the increasing number of active addresses and the falling price. Now this increase in value is seen as the underlying catalyst.

More addresses are active every day, which means that engagement increases. Implicitly, it means that XRP is attracting users’ attention.

Conclude

To be fair, the $ 4 price rally is still extremely speculative despite the market structure and fundamentals.

Any sharp correction on the BTC side could trigger a sell-off in the altcoin market. However, despite its correlation with BTC, XRP has seen an upward phase in the past. Hence, there is no reason to believe that it will not happen again.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

At home at home

According to AMBCrypto

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

CoinX

Recent Posts

Best New Meme Coins to Join for 2025: BTFD Coin Leads, Popcat Keeps It Purr-fect, and Non-Playable Coin Hits Gamers Hard

Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…

37 minutes ago

Solana memecoins crash while DTX Exchange hits 100,000 TPS on layer-1 blockchain

Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…

1 hour ago

Strategic Bitcoin Reserve Expected to Cut 35% of US National Debt by 2049

VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…

1 hour ago

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

2 hours ago

Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level

Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…

3 hours ago

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

4 hours ago

This website uses cookies.