Cryptocurrency

These Bullish Indicators Suggest Upcoming 33,000% XRP Price Rally

XRP has recently experienced a price increase, and technical indicators suggest the potential for a significant upward trend. Specifically, the Bollinger BandWidth (BBW) and Aroon indicators are exhibiting signals historically associated with substantial XRP price rallies.

The BBW measures market volatility. An extremely low BBW, like the one XRP is currently experiencing (65.69, the lowest in its history), often precedes a period of high volatility and price movement.

Aroon indicators, on the other hand, track the strength of trends. In the current scenario, the Aroon Up indicator has fallen sharply (14.29%), while the Aroon Down has reached 100%. This divergence suggests a potential reversal from a downtrend and the emergence of an uptrend.

Historical Precedents

Similar BBW and Aroon readings preceded significant XRP rallies in 2017-2018 and 2020-2021. In February 2017, a low BBW (73.40) coincided with a weak Aroon Up (71.43%) and a strong Aroon Down (92.86%). Following these signals, XRP bottomed out at $0.005 before undergoing a remarkable 66,100% surge to $3.31 in January 2018.

The pattern repeated in late 2020. A low BBW (100.42) emerged alongside a declining Aroon Up (42.86%) and a rising Aroon Down (50%). XRP subsequently skyrocketed by 795% from its bottom price to a peak of $1.96 in April 2021.

Potential Price Surge

Based on the historical performance following similar technical setups, analysts project a potential surge for XRP. An analysis of the average gains from past rallies suggests a possible increase of 33,448%. This would propel XRP from its recent low of $0.3824 to a price of $128.

Supporting Trends

Several additional trends support the bullish outlook for XRP. First, the recent 19.46% price increase in July could be the initial phase of the predicted upswing. Second, the tightening of the Bollinger Bands on the monthly chart reinforces the possibility of substantial price movement. Tight bands often precede significant price volatility.

Third, on-chain data from Santiment indicates an accumulation trend among large investors. Specifically, addresses holding between 100,000 and 10 million XRP have acquired 130 million XRP since June.

Additionally, wallets containing at least 1 billion XRP have amassed a significant amount (1.15 billion XRP) within the same timeframe. This institutional accumulation suggests growing confidence in XRP’s future potential.

While past performance is not necessarily indicative of future results, the current technical indicators for XRP share similarities with periods preceding past rallies. Combined with on-chain data suggesting investor accumulation, these factors create a scenario suggesting a future upswing 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

Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

Recent Posts

Chartist Predicts 5 XRP Price Milestones If Bitcoin Hits These Bullish Points

Experienced crypto analyst EGRAG has projected that XRP could reach remarkable price levels if Bitcoin…

29 minutes ago

Shiba Inu News: SHIB Burns Skyrocket 1800%, Cardano Aims For $1 As Price Surges 60%, While Yeti Ouro Tops Presale Charts

In the ongoing bull market, memecoins have provided the best opportunities, and to keep its…

1 hour ago

Are $1 SHIB, $600 SOL, and $10 XRP Possible? This XRP Alternative Could Deliver 5000% Gains Instead!

Cryptocurrency enthusiasts are buzzing about the potential for massive gains in popular tokens. There's speculation…

4 hours ago

Pro-XRP Lawyer States Two Key Reasons Why Bitcoin Will Sustain Rally

Attorney Jeremy Hogan, a prominent figure in the XRP community, recently outlined two key developments…

5 hours ago

Shiba Inu to $1: Achievable, but Watch Out for This Rising Rival That Could Get There Faster!

Shiba Inu has been stirring excitement among crypto enthusiasts, with hopes of its value reaching…

6 hours ago

XRP, SHIB, DOGE Win Coinbase Significant Inclusion

The U.S.-based cryptocurrency exchange Coinbase has launched a new index fund, the COIN50, which tracks…

6 hours ago