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The price of XRP was traded between $ 2.05 and $ 2.40 during the past month while unifying the bull banner in the weekly time frame.
Many analysts say that the current technical preparation reflects the 2017 prices, which preceded the massive collapse of its highest levels ever.
XRP Eyes price 530 % in double numbers
Xrp (XrpThe price has been merged less than $ 3.00 since February 1. However, analysts argue that it may witness a tremendous recovery of the current level if it follows, as happened in 2017.
Mikybull Crypto He said It seems that the XRP price movement in the time frame for a period of three weeks follow a book to play 2017, as the outbreak of the bull banner has moved more than 1,300 % to the highest level ever about $ 3.40.
“I have seen this movie before,” the analyst said on June 17 on X, adding:
“2017 The upcoming feelings.”
Altcoin prices follows a similar setting on the weekly timetable, as shown below.
The bull flag is the preparation of a bullish continuation that is formed when the price makes a sharp step higher (the pillar of science), then it stops and merges into a small symmetric triangle (the flag).
The bull worlds are usually resolved after the price collapsed over the resistance line of the triangle and rises by the high rise in the previous upward trend. This puts the top target of the XRP price at $ 14, or an increase of 530 % over the current price.
Related to: Trident Digital to create a XRP wardrobe up to $ 500 million
These analyzes It is in line with the previous predictions From XRP up to 27 dollars based on graphics, Elliot wave Fibonacci’s analysis and accessories. Others say the price of XRP can The gathering is 1100 % to 25 dollars if Spot XRP ETF has been approved In the United States.
The price of XRP needs to restore SMA for 200 days
XRP capabilities are to move the highest part of the recovery that started on April 10 and saw Relative power index (RSI) rises to 52 at the time of writing this report from excessive conditions in 29.
XRP bulls focus on breaking the resistance at $ 2.27-simple moving average for 50 days (SMA).
Altcoin’s upward status depends on transferring the resistance between $ 2.37 (SMA 200 days) and $ 2.65 to new support.
The closure above this level will indicate A way to return to $ 3.00 Or seven years higher than $ 3.31.
As CoINTELEGRAPH I mentionedBreaking the resistance at $ 2.65 may lead to a continuous recovery, which may witness a height of XRP above $ 3.00.
This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.
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