XRP Price Set to Surge: Analyst Identifies Key Catalyst for Next Bullish Move
Crypto analyst JD has once again commented on XRP’s potential for a “parabolic” rally. This time, he has pinpointed the trigger that could lead to a significant surge in the crypto token.
All Eyes on the MACD
In a recent post on his platform, JD highlighted the MACD (Moving Average Convergence Divergence) as the crucial factor that could drive XRP’s rally. He noted that the last parabolic move in XRP occurred when the MACD crossed the 0 level. Although it hasn’t happened yet, the market is approaching that level.
JD shared a chart showing that XRP experienced a 650x gain when the MACD crossed 0 in 2017, following a 4-year trendline. This time, there is an 8-year trendline dating back to 2017, and JD believes a breakout from that trendline could instantly turn the market bullish.
Another user on the platform expressed that once XRP crosses the $0.92 price level, it’s “game over.” JD seemed to agree with this sentiment, although he refrained from giving a specific price prediction. However, based on the chart he shared, XRP could potentially rise to as high as $15, similar to its performance in 2017.
XRP and Bitcoin Relationship
Crypto analyst Egrag Crypto also shared his perspective on the relationship between XRP and Bitcoin. He mentioned a scenario where Bitcoin’s price surge to the 48k-50k range could put pressure on XRP, causing it to decline against the flagship cryptocurrency.
In this scenario, XRP’s decline is attributed to Bitcoin absorbing liquidity, which increases Bitcoin’s dominance. However, if XRP can “decouple and carve its unique path,” the situation could turn out differently.
Egrag noted that despite the unfavorable projection, XRP could still be remarkably bullish. Once Bitcoin releases the absorbed funds, liquidity could flow back aggressively to altcoins like XRP. Another analyst, CrediBULL Crypto, has also mentioned that XRP will benefit once there is an influx of new money into the market.
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