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XRP's Explosive Surge Imminent: Analyst Identifies Three Bullish Signals

Coin WorldTuesday, Feb 18, 2025 4:53 am ET

1min read

XRP's Price Surge Imminent: Analyst Identifies Three Bullish Signals

XRP, the native cryptocurrency of Ripple, has been in a consolidation phase around the $2 mark, with the broader crypto market showing no clear direction. However, a prominent analyst has identified three bullish patterns in XRP's price charts, spanning multiple timeframes, which suggest a potentially explosive price surge is imminent.

The first indicator is a breakout above the daily EMA ribbons. Steph, the analyst, noted that XRP has recently surpassed its daily EMA ribbons, a technical indicator comprising multiple exponential moving averages that help traders determine market trends. This signal has historically preceded strong bullish moves. The last time XRP broke above its daily EMA ribbons was in early November 2024, when the price was around $0.54. Shortly afterward, the asset surged by over 400% within a few weeks. Following the recent breakout, Steph predicts a high likelihood of another significant price surge for XRP, with a potential target of $13.25 if the rally mirrors the previous one.

According to Steph, the daily MACD chart for XRP has confirmed a bullish crossover, another technical signal that precedes a price uptrend. Traders often use the MACD to identify potential reversals in market trends. Notably, when the MACD line crosses above the signal line, it often signifies the beginning of an upward trend. This crossover has occurred, adding to the bullish outlook.

For the third indicator, Steph noted that XRP had completed a double-bottom breakout on the monthly timeframe. This structure, often called a "W" pattern, is a bullish reversal signal that indicates a shift from bearish to bullish momentum. For a double-bottom breakout to be valid, the price must break above the Support line of the pattern, retest it, and then move significantly higher. According to Steph, XRP has successfully cleared this neckline and is now in the phase where a parabolic rally could unfold. He believes that the technical target for this move is over $30. As of report time, XRP changes hands at $2.65, having dropped 1.95% over the past 24 hours. For the asset to reach the $30 mark, it must rally by a massive 1

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