With the global crypto market facing a gradual decline, XRP has been one of the few cryptocurrencies bucking the trend. This implied that...
Analyst believes XRP could surge by 500% to its all-time high, if it breaks a key chart patternhas been one of the few cryptocurrencies bucking the trend. Trading at $0.5384 at press time, XRP managed to record a 2.2% price hike in the last 24 hours, on the back of 2.7% weekly gains on the charts.
While many assets are struggling to regain momentum, XRP appears to be on the verge of an upward trajectory. In fact, some experts are now suggesting that a larger bullish run may be on the horizon soon.on XRP. Marks highlighted a hidden bull divergence pattern on XRP’s chart, which, if broken, could lead to a significant price surge.“XRP is still looking primed for a surge in price which can extend, in strength and value, beyond the comprehension capacities of many. All-Time Highs of $3.
Marks believes that XRP’s return to its previous all-time high will depend on its ability to break through this hidden bull divergence pattern, which could trigger anWhile the technical outlook painted a positive picture for XRP, the asset’s fundamentals also seemed to support this bullish sentiment.
One important indicator is XRP’s Relative Strength Index . At the time of writing, it had a reading of 39, according toFor context, the RSI is used to gauge whether an asset is overbought or oversold. An RSI value of around 39 suggests thatAdditionally, according tosurged by 3.19%, hitting a press time valuation of $713.26 million. Here, Open Interest reflects the total number of outstanding derivative contracts. And, a hike in this metric often points to growing investor interest.
The hike in both Open Interest and volume suggests that there is significant momentum building behind XRP, with more traders placing bets on the asset’s potential gains.
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