In the latest bullish prediction for XRP, pseudonymous analyst Cryptobilbuwoo0 predicted an immense surge to $6. His optimistic outlook comes from a golden cross on the weekly chart, indicating a price explosion.
Cryptobilbuwoo0 stressed the similarities between XRP’s rally in the 2020/21 cycle and the current one. XRP experienced a substantial surge in January 2021, and the analyst shows that the current behavior of the digital asset matches that from Jan 2021.
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XRP’s Historical Trends
To comprehend the potential for a price surge, we must look back at XRP’s historical movements. In 2020, XRP formed a bullish golden cross in October, when the 25-week moving average crossed above the 50-week moving average. This golden cross triggered a massive rally, sending XRP to a high of $0.79 in November 2020.
This moment was pivotal as it marked the end of a persistent downtrend that had plagued XRP for months. However, the surge could not cross $0.79 and was followed by a brief corrective phase. XRP made a remarkable comeback, breaking through the $0.79 resistance and reaching a high of $1.96 in Apr 2021. This sequence of events is strikingly similar to what we’re witnessing now.
Repeating the Historic Pattern
The analyst believes that history might be repeating itself right now as XRP broke above a multi-month descending trendline once again. This is a notable event that coincided with another weekly Golden Cross. The breakout was significant because it coincided with Ripple’s partial victory in July, and sent XRP to a high of $0.9479 in July.
However, as was the case in the previous cycle, XRP met strong resistance after this surge, leading to a correction of its gains. But Cryptobilbuwoo0 doesn’t see this as the end. He predicts that the July rally is just the beginning of something bigger. He anticipates another upsurge for XRP soon.
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What Lies Ahead for XRP
Based on historical performance, Cryptobilbuwoo0 predicts that XRP could rise to the range of $5.3 to $6. XRP is trading at 0.4868, up 0.19% in the last 24 hours. A jump from its current price would mean an 1132.53% surge.
#xrp #Ripple
If we look at another similar place other than Feb-Mar 2017, we can say it is Jan 2021.
1. Strong breakout of downtrend line, 25w & 50w MA Golden Cross.
2. Downtrend line retest.
3. Passing through negative cloud zone of Ichimoku cloud.
4. Same rise rate: 5.3~6$. https://t.co/ovPcIC1FFU pic.twitter.com/iYQf7GdBEQ— (X)=chi (R)esurrected (P)=rho (@Cryptobilbuwoo0) October 2, 2023
As with any cryptocurrency analysis, it’s essential to exercise caution and consider the inherent volatility in the crypto market. However, the historical patterns and golden crosses presented by Cryptobilbuwoo0 suggest that XRP could be gearing up for an impressive rally. XRP investors might be in for an exciting ride if history repeats itself.
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