In history, XRP has experienced mega returns reacting to the 21 EMA on the two-week chart, and a past cycle has earned 1,400 percent and 455 percent.
The present price behavior shares the same past cycle, and technical patterns such as MACD and Bollinger %B indicate a good bullish impulse.
XRP is selling at 2.4976 and is above major support prices, which implies that a new breakout is possible, as history has indicated.
XRP’s historical performance reveals distinct patterns that could suggest a new boom cycle is forming. Previous price cycles, tracked after XRP bounced off the 21 EMA on the 2-week timeframe, showed significant gains. Cycle 1 registered a 1,400% increase, while Cycle 2 followed with a 455% gain. These figures place the average return at approximately 924%.
Analysts monitoring the current price action note that XRP has once again touched the 21 EMA. This alignment with past technical patterns raises expectations for another potential surge. Based on historical behavior, the projected targets range between $11 and $30 per token. Market participants are now watching closely for signs that this upward trend will confirm itself.
Current Technical Indicators Suggest Short-Term Strength
The most recent figures on the 2-hour XRP chart in Binance indicate that the token has been experiencing a steady uptrend since the middle of June, and as of July 10, it touched $2.4976. This is backed by technical indicators. With a Bollinger %B reading of 0.81, this implies that the XRP is trading above the upper band, thus having high bullish momentum.
The MACD also indicates strength, and both the MACD line and signal line are located above each other and moving upwards. Trading activity is stable, and peak volumes can confirm active buyer involvement. These signs correlate with the ones observed prior to prior eyeballs and so much more support the probability of a forthcoming rally.
Investors’ Survey: Future Market Outlook in the Face of a Potential Breakout.
The players in the market should be able to be ready to pick up any momentum shift or trend indicators. As much as technicals are favorable to move higher, there can also be temporary adjustments as a result of overbought conditions. Nevertheless, assuming that the current cycle is similar to the previous patterns, XRP may enjoy a fast price propulsion.
Since the digital asset is trading above important areas of support, investor confidence is progressively leaning towards cautious optimism. It is unclear whether this will translate to another 900 percent advance, but the present setup is similar to previous boom cycles that resulted in dramatic positive outcomes.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
<p>The post XRP Boom Cycle: Is a 900% Move on the Horizon? first appeared on Coin Crypto Newz.</p>
