XRP has attracted the attention of Mikybull Crypto (@MikybullCrypto), who identified a notable technical indicator that has historically preceded significant price increases. The analyst described this indicator as rare but noted that it never fails.
This moving average indicator has predicted XRP’s price movements with some accuracy for almost a decade. Whenever the indicator generates a green signal that persists for several months, historical data suggests a substantial XRP price increase follows.
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Green Signals and Subsequent Rallies
Mikybull Crypto showed on his chart that the same technical pattern sent XRP to its all-time high of $3.84 in January 2018. The first instance of this green signal occurred between August 2015 and February 2017.
During this period, XRP’s price dipped to a low of $0.005. Interestingly, following the green signal’s disappearance, XRP experienced a dramatic surge, skyrocketing from its February 2017 low to its all-time high in January 2018.
The pattern repeated itself. After reaching its peak, XRP underwent a correction, and the moving average produced another set of green signals from August 2019 to October 2020. XRP’s price fell to $0.2286 during this timeframe.
However, once the signals subsided, XRP rebounded, reaching $1.96 in April 2021. Another prominent analyst recently predicted a rebound to a close target of $1.98. However, Mikybull Crypto has bigger targets for XRP.
Analyst Bullish on XRP’s Future
Following the 2021 correction, green signals reappeared in May 2022 around the time of the Terra ecosystem collapse. These signals persisted until recently, and with these signals now absent, Mikybull Crypto anticipates an upcoming price rally for XRP.
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The analyst predicts a potential price surge towards a range of $2.4 to $3. However, Mikybull Crypto emphasizes that this is a conservative target. He suggests that prices could climb considerably higher, particularly as the broader cryptocurrency market enters a bull run.
Mikybull Crypto is not alone in his bullish outlook on XRP. Earlier this month, during a price recovery period for XRP, he declared that the token had likely reached its bottom at $0.4235. Other analysts have also reinforced this sentiment, predicting massive surges for XRP in the short and long term.
XRP is trading at $0.5207, up 0.49% over the past 24 hours. Analysts are confident of an impending XRP surge, and investors are waiting excitedly for the rally to begin.
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