"This signal always led to a surge"...XRP, on the verge of the same pattern erupting again

▲ XRP

As XRP forms a key signal that has historically triggered bull markets, the possibility of a large-scale upward cycle reoccurring has been raised.

According to The Crypto Basic, a virtual asset media outlet, on April 22 (local time), market analyst Chart Nerd analyzed that XRP is once again exhibiting a structural pattern that has been repeated since 2020. The crucial point is that a strong bull market has consistently begun whenever the long-term upward trend line was retested.

The same trend was observed in past instances. XRP surged after touching the upward trend line at $0.11 in 2020 and in the $0.30 range in 2022 and 2023, subsequently forming bull markets with increases to $1.96 and $3.6, respectively.

Currently, XRP is still moving within a downward channel and remains in a correction phase. The analyst suggested that despite the possibility of a short-term rebound, further declines could follow, with the retest range for the long-term upward trend line identified between $0.70 and $0.90. It is diagnosed that a new cycle low is highly likely to form in this range.

The significant aspect is that if this pattern repeats, the subsequent price increase will be substantial. In the past, a powerful bull market also commenced after a prolonged period of sideways movement following the reconfirmation of the upward trend line. The analyst emphasized that the current structure is similar to the period just before the major uptrend that occurred from 2013 to 2017.

More aggressive price targets were presented in the long-term outlook. If XRP breaks its previous all-time high of $3.6, it could enter a price discovery zone, potentially opening up room for an increase to as much as $27. If this signal activates again, there is a possibility that the same explosive upward cycle as in the past will be reproduced.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*