Is a Big Rally Coming in XRP? Analyst Assessed the Current Situation, "The Signal That Previously Brought 200% Increase is Lit Again!" He Said!

robot
Abstract generation in progress

US President Donald Trump's new customs tariff policy against China and several countries caused sharp declines in Bitcoin and altcoins.

BTC fell to the level of 91,000 dollars, and significant losses were also seen in altcoins. Ethereum (ETH) dropped to the level of 2,100 dollars, XRP to the level of 1.8 dollars, and Solana (SOL) declined to the level of 180 dollars.

However, as the market recovered afterwards, market analyst Omkar Godbole said that XRP gave a potential breakout signal against BTC.

An analyst said that despite the challenges altcoins have faced amidst global economic uncertainty, XRP has shown signs of upward movement.

The analyst based on the XRP/BTC ratio noted that the ratio has approached the upper Bollinger Band on the monthly chart for the first time since 2017.

The analyst, who stated that this situation is a strong indication of a bullish signal, referred to April 2017.

The analyst also pointed out that in 2017, XRP/BTC broke the upper Bollinger band, and then XRP made a big move, experiencing a 200% increase.

If history repeats itself and the XRP/BTC rate breaks the upper Bollinger band, there may be a big rise in store for XRP.

XRP, which has experienced a 9% increase in the last 24 hours, continues to trade at $2.6 as of the time of writing.

XRP3.28%
TRUMP1.26%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)