XRP has spent a considerable amount of time in the bearish market. While the cryptocurrency market has seen several all-time highs and significant price surges, XRP has failed to retest its all-time high. In 2021, it reached $1.59, only about half of its all-time high from the 2018 bull market.
However, beneath this seemingly stagnant performance, a crypto analyst has revealed a 7-year triangle, painting a compelling narrative that XRP may be on the cusp of a historic bull run.
There is No World Where #XRP Doesn’t Go on a HISTORIC Run After this…
I’ve never been so bullish on this coin. Massive wedge forming for 7 YEARS. Settlement around the corner. Top 5 Coin Held Down for YEARS by a BS Lawsuit. First coin with clarity & it’s good on all fronts.… pic.twitter.com/c2yaIJ97Od
— Cameron Scrubs (@imcameronscrubs) October 8, 2023
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An Impending Bull Run
Cameron Scrubs (@iamcameronscrubs), the founder of Tradeship University, shows this pattern formed by XRP’s market in a chart on X. This pattern resembles a long-standing triangle, a well-known indicator for bullish price movements. Scrubs expressed strong confidence in XRP’s future performance, stating, “There is No World Where #XRP Doesn’t Go on a HISTORIC Run After this.”
Scrubs says he has never been this bullish on XRP because of the triangle, which he describes as a “massive wedge” that has been forming for 7 years. The main factor influencing XRP’s performance, which Scrubs points out, is Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC). This lawsuit has kept it from gaining broader investor appeal. It has also hurt XRP’s adoption by major companies.
Despite the challenges, XRP emerged victorious in July, solidifying its status as a non-security asset. Although the SEC tried to file an interlocutory appeal to challenge part of the ruling, the appeal was denied recently, signifying another victory for Ripple and the XRP community.
Read Also: As XRP Burn Rate Doubles Over 30 Days, Analyst Says $100 XRP Price Is Certain
Scrubs highlights that XRP’s position as the first cryptocurrency with clarity is “good on all fronts.” He also points out that XRP solves real-world issues and does not see any other reason why its price will not surge soon. He states, “This thing goes on a crazy run over the next year/two years or it’s RIGGED”
This statement shows how much confidence Scrubs has in XRP. For him, it is either XRP surges or the system is rigged. One key observation from market analysts is the extended accumulation phase XRP has been going through. This consolidation drives Scrubs’s prediction and is the basis for a prediction from another prominent crypto analyst.
EGRAG CRYPTO (@egragcrypto) recently highlighted a 68-month accumulation phase, predicting a bull run to a whopping $90 for XRP. According to his analysis, the longer the accumulation phase, the stronger the potential for a significant price recovery.
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