One of the popular cryptocurrencies, XRP is experiencing a unique price pattern that favors the future price spike. Crypto analyst Prophecy Trading says that XRP is experiencing its “wave 4 correction.” The price is adjusting in advance to a major rally, with a chance to strike a new all-time high (ATH) of $4 by April.
This was compared to XRP’s price action in 2017 where it did almost the same pattern earlier before an exponential growth. On the other hand, XRP is retaking right now even despite its price oscillations. The stock is closed on 10.25% uptick and therefore this is a sign for the stock to build up momentum for a breakout.
Although, according to another expert, CasiTrades, the “bullish divergence” as indicated by RSI (Relative Strength Index) demonstrates a similar scenario as discussed in Bitcoin. It implies that buyers could very much take control before the price jumps. According to her, key support is at $2.36 while the next resistance levels are located around $2.70, $3.05 and $3.40. If the price pierces these then could reach its all time high, around $3.80 or even $4.
Currently, XRP is trading around $2.45, with a 2% gain in the last 24 hours. The same may happen if history repeats itself and the market conditions remain strong because XRP holders may have an exciting rally in future weeks.
Also read: XRP vs. Ethereum: What Would 1 XRP Be Worth If Its Market Cap Matched ETH?
