XRP: 10x Rally Possible if Bearish Pattern Broken

XRP Could Rally 10x If It Negates This Bearish Pattern

XRP, the native cryptocurrency of the Ripple network, has been the subject of much debate and speculation in recent weeks. While some analysts predict a significant rally for the digital asset, others remain cautious. A prominent cryptocurrency analyst, JD (@jaydee_757), recently shared an XRP price chart that highlights a potential breakout and key technical indicators. His analysis suggests that XRP could surge by as much as 10x if it can negate a bearish pattern.

JD's chart showcases a long-term symmetrical triangle pattern that XRP has broken out of. The technical analysis highlights key Fibonacci retracement levels, with the 0.618 and 0.786 levels positioned around $0.44 and $0.28, forming the support that helped XRP's surge. However, JD also identified a red resistance box above the current price, suggesting a potential area for profit-taking. He highlighted a bearish divergence with the digital asset's recent price movement, which often signals potential price weakness.

JD posed an important question regarding XRP's next move: "Can we negate bearish divergence? IF NOT, red box may hit for another DCA opportunity!" This statement implies that while the current rally is strong, traders should be cautious and prepared for possible corrections. If XRP can negate the bearish divergence, the chart suggests a notable surge could follow. While JD did not provide a specific target, XRP's previous 10x surge can serve as a useful reference. XRP is currently trading at $2.64, and a 10x surge would place the digital asset at $26.4, close to the $27 target other notable analysts have predicted.

JD also reiterated the importance of taking calculated profits, stating that "95% will get rekt this cycle! Let’s be the smart money (5%) who actually wins this time!" The analyst has previously drawn attention to this "dumb money" phenomenon, advocating for smart trading strategies like Dollar Cost Averaging (DCA).

JD's latest analysis provides valuable insights into the asset's technical structure and potential future movements. If the asset can negate the bearish divergence, JD noted that he would