XRP Price: Crypto Analyst Anticipates 65,000% Rally Signal Today
December 06 2023 - 8:00AM
NEWSBTC
The XRP price has been rather stagnant in recent days. However,
this could be about to change according to crypto analyst Jaydee.
In a recent technical analysis, Jaydee has highlighted a potential
golden cross on the 4-day chart which may be confirmed as soon as
today. Crucial XRP Price Signal Today? The chart presented by
Jaydee shows a potential golden cross, a bullish chart pattern that
occurs when a shorter-term moving average crosses above a
longer-term moving average. The last occurrence of a golden cross
was followed by an impressive 650-fold increase in XRP’s price,
according to the analyst. Jaydee posted on X (formerly Twitter),
“XRP – Golden cross on 4-day chart confirming today? Will this help
us break the 8 year trendline? Last time it did this, XRP 650x!
Although it won’t make the same gains, the gains coming will be
LIFE CHANGING for the 5% who take “calculated” profits!” In the
history of the XRP price, there have been two occasions in which
Jaydee’s golden cross has taken place. The first was in March 2017,
which was followed by a massive rally that saw the price rise from
below $0.005 to its all-time high of $3.31. The rise represented a
price gain of over 65,000%. Related Reading: XRP Price Set To
Skyrocket 1,100% On This Signal: Crypto Analyst The second time was
in December 2020, when the price rose from around $0.17 to as high
as $1.95. This represented a price appreciation of an incredible
1,040%. However, the rally came to an abrupt end when it was
rejected at Jaydee’s “8-year trend line”. How High Can The Price
Rise? This long-standing resistance level has capped the XRP price
growth several times since its inception. Based on the monthly
chart, the XRP price has been rejected at the descending trend line
a total of 6 times since January 2018. This is another similarity
to the 65,000% rally which started in March 2017. The chart by
Jaydee outlines a notable 4-year trendline breakout that occurred
after the Golden Cross appeared. If history repeats, the price
could target the upper end of the trendline very soon, if the
golden cross is confirmed today. Related Reading: XRP Lawsuit: Full
History, News, Schedule And Price Predictions Currently, the
digital asset’s price is hovering around the $0.63 mark. According
to Jaydee, the price could go straight up to the resistance of the
descending 8-year trendline. Notably, the XRP price would have to
rise to the region around $0.82 to touch the resistance. The yellow
arrow in Jaydee’s chart shows where the XRP price could move. Even
if the crypto analyst does not name a specific target, he indicates
with the yellow arrow that XRP could potentially reach over $20 by
2025. In response to community member James’ query regarding the
possibility of a 650x increase, Jaydee cautiously tempered
expectations. While acknowledging the historical bull runs, Jaydee
stated, “I wish.. highly doubt it though brotha.” At press time,
XRP traded at $0.6244. Featured image from iStock, chart from
TradingView.com
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