A prominent analyst has identified three bullish patterns in XRP’s price charts, spanning multiple timeframes, which suggest a potentially explosive price surge is imminent. The analysis comes when XRP has remained in a consolidation phase around the $2 mark, with the broader crypto market showing no clear direction. Notably, Bitcoin (BTC) is under pressure to reclaim $100,000, keeping altcoins in a waiting phase. However, some market analysts believe XRP could be gearing up for an explosive move, especially whenever the broader market recovers. One such analyst, Steph, has identified three key patterns suggesting a major uptrend may be imminent. XRP Secures Daily EMA Ribbon Breakout The first indicator is a breakout above the daily EMA ribbons. Steph noted that XRP has recently surpassed its daily EMA ribbons, a technical indicator comprising multiple exponential moving averages that help traders determine market trends. For context, this signal has historically preceded strong bullish moves. The last time XRP broke above its daily EMA ribbons was in early November 2024, when the price was around $0.54. Shortly afterward, the asset surged by over 400% within a few weeks. Following the recent breakout, Steph predicts a high likelihood of another significant price surge for XRP. He views this as a robust bullish indicator, signaling a shift in market momentum in XRP’s favor. If this rally mirrors the previous one, with a 400% gain, XRP’s price could reach $13.25 Bullish MACD Crossover According to Steph, the daily MACD chart for XRP has confirmed a bullish crossover, this technical signal precedes a price uptrend. Traders often use the MACD to identify potential reversals in market trends. Notably, when the MACD line crosses above the signal line, it often signifies the beginning of an upward trend. According to Steph, this crossover has occurred, adding to the bullish outlook. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 XRP Sees Double Bottom Breakout For the third indicator, Steph noted that XRP had completed a double-bottom breakout on the monthly timeframe. This structure, often called a “W” pattern, is a bullish reversal signal that indicates a shift from bearish to bullish momentum. For a double-bottom breakout to be valid, the price must break above the Support line of the pattern, retest it, and then move significantly higher. According to Steph, XRP has successfully cleared this neckline and is now in the phase where a parabolic rally could unfold. He believes that the technical target for this move is over $30. As of report time, XRP changes hands at $2.65, having dropped 1.95% over the past 24 hours. For the asset to reach the $30 mark, it must rally by a massive 1,032%. Major XRP Resistance However, for XRP to completely validate these bullish signals, Steph stressed that closing above $2.80 with the daily candle is necessary. If XRP can hold above this level, it could provide a springboard for additional upward momentum. Additionally, the broader market environment will need to align perfectly. The crypto market remains volatile as Bitcoin remains below the $100,000 mark. However, if Bitcoin begins to recover, it could provide additional momentum for XRP. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Analyst Identifies Three Bullish Signals That Could Propel XRP 1,032% Higher appeared first on Times Tabloid .
