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XRP Price Bullish On All Frames With Targets Between $4 To $30
XRP Price Trend Goes Bullish On All Frames
XRP price has gone bullish on all frames, according to the pseudonymous Dark Defender on X. The technical analyst claimed the trend is a positive indicator reinforcing previous optimistic estimates of other popular forecasts, with targets ranging from $4.50 to $5 top.
The analyst’s latest declaration comes hot on the heels of the Double Bottom and Hidden Bullish Divergence TradingView observed earlier. Both of these signal XRP’s potential transition from a months-long bearish phase after the January pullback to a bullish trajectory this July.
Price Push At $11 to $30 per XRP
Egrag Crypto’s latest readings beg to differ, though. According to the technical analyst, the two-week timeframe of XRP shows an incoming major bounce coming off from the 21 exponential moving average (EMA).
ADVERTISEMENTTaking notes from similar historical patterns, he believes that XRP price could pump up to 1,400% to around $30 if it emulates the 2018 bullish play. Meanwhile, the token could be due to a 455% boost to $11 if it mirrored its 2021 peak. At an average, these translate to an estimated 924% acceleration to $20.
Source: Egrag Crypto on X
The analyst warned investors to stay vigilant once the hype kicks in, especially when it seems they are already feeling aggressive due to the digital asset’s rally. He advised using the “Dumb and Smart” Indicator to control their emotions.
ADVERTISEMENT“When you feel super smart, it’s usually time to sell, when you feel super dumb, that’s often the signal to buy,” said Egrag.
The Bitcoin Effect
Supporting XRP’s recent push was Bitcoin’s (BTC) milestone at the $112K mark on some exchanges, recording its new all-time high (ATH). Despite their declining correlation in the three-month range, which is now at 0.57, the XRP Ledger’s native token still benefits from upticks in BTC, as with any other high market cap altcoins.
Edo Farina, Head of Social Adoption at XRP Healthcare, has, however, criticized how Bitcoin has recently built momentum to a new ATH. He suspects BTC’s movement hasn’t been as organic as its 2020 to 2021 climb, which came with 400% higher volume.
The well-known XRP advocate claimed that the trend is starting to appear as “manufactured exit liquidity,” citing the heavy influence of the 80,000 dormant BTC’s suddenly showing signs of activity just days before his perceived “synthetic all-time high.”
The Ripple Effect
Let’s not dismiss the fact that Ripple has been making great strides in eliminating traditional finance (TradFi) rails via XRP Ledger (XRPL) powered solutions. A few hours ago, the company unveiled a new partnership with The Bank of New York Mellon Corporation (BNY) for the institutional-grade custody of Ripple USD (RLUSD) reserves. The new collaboration also aligns with Ripple’s ongoing advance in establishing its own bank.
Developments within the XRPL ecosystem are expected to trigger more demand and use for its native token, XRP. These could eventually convert to more demand for the fourth largest crypto asset in the world by market cap.
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