Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Crypto analyst Bobby revealed that the XRP pricehas completed a consolidation pattern, hinting at a potential parabolic rally for the altcoin soon. The analyst suggested that XRP’s price could rally to double digits once this rally occurs. XRP Price Eyes Rally To $19 As It Completes Double-Bottom Pattern
In an X post, Bobby indicated that the XRP price has completed the macro double-bottom pattern, which it had spent over seven years building. The analyst’s accompanying chart showed that the altcoin is now gearing up for a rally to as high as $19 following the completion of this consolidation pattern. Related Reading XRP Price Faces 25% Drawdown Risk, But This Technical Point Is Key 2 days ago
Meanwhile, the analyst noted that the XRP price spent over nine months building support near the neckline of the massive W pattern. He added that the altcoin spent the same amount of time consolidating below the 1.618 Fibonacci extensionof its latest macro swing high to swing low. Source: Chart from Bobby on X
Bobby indicated that the XRP price rally will begin once it breaks through $3.02 and gains monthly acceptance above that level. He expects this move to take XRP into the take-profit levels he has highlighted on several occasions. These levels include $4.7, $6.4, $7.4, and possibly $19, all of which mark new all-time highs (ATHs)for the altcoin.
The analyst also predicts that the XRP ETFs could spark a rally to between $8 and $13 with possible wicks into the $20 range. These funds are expected to launch this month, depending on when the U.S. government shutdown ends. They provided a bullish outlook for XRP due to the amount of inflows that they could drive into the altcoin’s ecosystem. Meanwhile, it is worth mentioning that Bobby had also earlier alluded to previous cycles as the reason XRP could rally to $13. Analyst Sounds Warning To Bulls
Crypto analyst Egrag Crypto has warnedXRP bulls that the XRP price needs to close above $3.13 to $3.20 on the 3-day chart to sustain the current bullish momentum. His warning followed XRP’s reclaim of the psychological $3 level, which he noted has wrecked the bears. However, the altcoin needs to close above this range, or the bulls are also in danger of getting wrecked. Related Reading XRP Price Completes 7-Year Double Bottom Amid Prep For Moonshot To $19 6 hours ago
Egrag Crypto stated that the XRP price could follow suit if Bitcoin and Ethereumget rejected on their current rallies. He added that the altcoin could head lower, which he believes might actually be better. He assured that the last impulsive move would be explosive and could lead to life-changing gains for the bulls. However, for now, he believes that XRP is simply ranging until it closes above $3.20.
At the time of writing, the XRP price is trading at around $3, up in the last 24 hours, according to datafrom CoinMarketCap. XRP trading at $3.01 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com