XRP news today: XRP's Bullish Trend: 20X Rally Unlikely, 70% Crash Possible

The XRP price is showing signs of a strong comeback, according to a new technical analysis by a crypto analyst. The cryptocurrency is trading within a rising channel and quickly approaching a key support zone—a setup that indicates that bulls may be preparing for a higher leg up.

In a recent analysis, the analyst declared that “XRP is back,” enthusiastically discussing the cryptocurrency’s next bullish move based on its current price action. The analyst disclosed that XRP‘s future outlook is largely bullish, suggesting the potential for a strong upward trend.

The altcoin has been steadily climbing within a well-defined Ascending Channel, showcasing a medium-term bullish trend. The XRP chart illustrates consistently higher highs and higher lows—a classic hallmark of positive price action.

What’s particularly compelling about XRP’s current price action is its interaction with a key demand zone. This area has historically acted as a strong support and resistance level, showing multiple rejections and consolidations in the past.

The analyst also emphasized the area on the price chart where the green horizontal support zone intersects with the lower boundary of the rising channel. This confluence of horizontal and diagonal support levels greatly strengthens the likelihood of a bullish trend. Additionally, the expert has highlighted this area as a key zone for spotting strong buy setups.

While the analyst remains largely bullish on XRP, he has stated that he will be closely monitoring its price action as it approaches the key zone. During this time, he will be on the lookout for bullish reversal setups such as a double bottom pattern, trendline break, and other key signals to confirm the next move.

In other news, XRP is flashing technical signals not seen since its historic rally in 2017. According to a chart analysis released by a crypto analyst, it may be on the verge of a major breakout, with the potential for an explosive upside and a sharp correction to follow.

The analyst had pointed to the Stochastic Relative Strength Index (SRSI) indicator, which had crossed the 80 level — a momentum signal last seen in 2017 before the asset surged 20X within three months. The analyst has marked this signal as a “Cross Confirmed” moment, warning that the market may be entering a highly volatile phase.

Back in 2017, this exact crossover led to XRP skyrocketing to over $3 before experiencing a 90% price crash shortly afterward. Although the analyst has confirmed that the altcoin won’t see a 20X rally as seen in the past due to its higher market cap, he still expects a powerful surge followed by a 70% price crash to new lows.