Ripple XRP attracted significant attention from large investors. Whales, in particular, have shown a keen interest in Ripple XRP as they wait for a court ruling in a lawsuit filed by the SEC against Ripple. The accumulation of large wallets by investors indicates a positive outlook for XRP. This is the native token from XRP Ledger.
As of press time, XRP was able to maintain its current price at $0.51. The market is indicating that a potential rise up to $0.60 could be possible. Market analyst Mikybull provided analysis, highlighting a pattern that XRP could follow in the future.
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Next Quest of RippleXRP
Mikybull’s analysis includes a chart showing a pattern that has been consistent since 2014. This chart reveals XRP is equipped with a reliable moving average, which accurately forecasts major price fluctuations for over a decade. The importance of this indicator lies in its ability to predict major price movements. “green signal,” Typically, major price increases precede the occurrence of this phenomenon.
- August 2015 – February 2017. This is the first time that this indicator has shown a green light. In this period, XRP fell to $0.0050. After these signals were received, the asset soared 66,100%, reaching an all-time peak of $3.31.
- August 2019 – October 2020: After hitting its ATH, XRP corrected sharply. The moving-average indicator lit up green once again and XRP dropped to $0.2286. After the signal was sent, altcoins surged up to $1.96 by April 2021.
Also Read: Ripple XRP Analysis: How High Will XRP Go By the End Of 2024?
The moving average indicator is now flashing green again. It started back in May of 2022 when the Terra collapse occurred. The signals continued to persist until recent times, and led to the expectation of a new price rally. Mikybull, relying on historical accuracy in the moving average indicator predicts a rally imminent for XRP. His conservative estimate is a range between $2.4 and $3. He also says that the price could go higher as the bull market continues.
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Source: watcher.guru