Amid the ongoing volatility of the cryptocurrency market, a respected analyst has issued a stark warning: selling XRP right now could be a huge mistake. According to the expert, XRP is holding above the bullish support band (BMSB), indicating that it could still be poised for a significant increase.
The price of XRP has fallen since February, reflecting broader market trends. After a solid 45% gain in January, XRP saw a 29.33% drop in February. However, what sets XRP apart from other digital assets is its ability to stay above a key technical level – BMSB. This suggests that the asset’s bullish momentum remains strong.
Steph, a seasoned cryptocurrency analyst, highlighted that XRP continues to hold above a significant support level, which consists of the 20-week simple moving average and the 21-week exponential moving average. Historically, assets that hold a position above this range tend to remain in bull markets. While those that fall below often face prolonged downtrends.
According to Steph’s latest analysis, XRP’s position above BMSB signals a continuation of the bullish market cycle. Additionally, the analyst noticed the appearance of a double bottom formation on the weekly XRP chart. This is a reliable reversal signal.
The first low was in March 2020 when XRP fell to $0.1140. The second low came in June 2022 at $0.2870. XRP is currently breaking through the neckline of this pattern. Therefore, a massive price rally to $30 is possible. This is an astonishing 1276% increase from the current value of $2.38.
Steph warns that selling XRP now could be one of the biggest mistakes in cryptocurrency history, as the asset appears to be in an optimal position for a massive move in the near future.
The next gem in the cryptocurrency industry
While XRP continues to gain popularity, analysts are also pointing to Minotaurus (MTAUR), another altcoin that could become a leading player in the cryptocurrency space. Minotaurus is not just another digital currency, but a full-fledged blockchain gaming ecosystem.
The game involves collecting in-game resources, battling mythical creatures, and using MTAUR as your native currency to purchase items, customize your character, unlock new areas, and participate in special events.
At its current price of just 0.00010941 USDT, market commentators believe MTAUR is still undervalued. Its low market cap of 5.6 million further highlights its growth potential.
It is worth noting that the Minotaurus project has already passed security audits conducted by SolidProof and Coinsult, which confirmed that the platform is safe and legal.
As the blockchain gaming industry continues to grow and Web3 games have the potential to become a dominant force in the cryptocurrency market, MTAUR is seen as a promising acquisition.
Participants in similar blockchain gaming projects have seen incredible growth, and Minotaurus could follow a similar path.
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