A notable analyst has called attention to three bullish XRP patterns across different timeframes pointing to an imminent explosive run.
The analysis comes at a time when XRP has remained in a consolidation phase around the $2 mark, with the broader crypto market showing no clear direction. Notably, Bitcoin (BTC) is struggling to reclaim $100,000, keeping altcoins in a waiting phase.
However, some market analysts believe that XRP could be gearing up for an explosive move, especially whenever the broader market recovers. One such analyst, Steph, has identified three key patterns suggesting a major uptrend may be imminent.
XRP Secures Daily EMA Ribbon Breakout
The first indicator is a breakout above the daily EMA ribbons. Steph confirmed that XRP has recently broken above the daily EMA ribbons, a set of exponential moving averages that traders use to gauge trend direction.
For context, this signal has historically preceded strong bullish moves. The last time XRP accomplished this feat was in early November 2024, when it was trading at $0.54. Shortly afterward, the asset surged by over 400% within a few weeks.
Following the latest breakout, Steph believes there is a high probability of a similar rally occurring. According to him, this is a strong bullish signal that suggests market momentum is currently shifting in XRP’s favor. A similar 400% run would push prices to $13.25.
Bullish MACD Crossover
The second indicator that Steph points to is the confirmation of a bullish crossover on the daily MACD (Moving Average Convergence Divergence) chart. 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. According to Steph, this crossover has occurred, adding to the bullish outlook.
XRP Sees Double Bottom Breakout
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 neckline of the formation, 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. Currently, 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 1,032%.
Major XRP Resistance
However, for XRP to completely validate these bullish signals, Steph stressed that closing above $2.80 with the daily candle is necessary. This level could serve as a launching point for further gains if sustained.
Additionally, the broader market environment will need to align perfectly. Bitcoin’s struggle to regain $100,000 has kept much of the crypto market in a state of uncertainty. However, if Bitcoin begins to recover, it could provide additional momentum for XRP
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
