XRP Price Chart Flashes Inverse Head And Shoulders Pattern That Could Trigger Rally To $3.9 📈
XRP's price has shown high volatility recently, dropping by 4.7% in the past 24 hours. However, crypto analyst Egrag Crypto noted an inverse head and shoulders pattern emerging in XRP's chart, potentially signaling a bullish reversal. This pattern, expected to fully form soon, could trigger a rally sending XRP's price between $3.7 and $3.9.
In addition to the inverse head and shoulders pattern, Egrag Crypto forecasts that XRP's price could reach a new all-time high in 90 to 120 days. This prediction stems from a recurring Relative Strength Index (RSI) pattern observed in previous bull cycles, particularly in 2017 and 2021, where the second RSI peak followed 90 to 120 days after the first.
XRP's RSI, currently at 66, has completed its first peak, and another peak is anticipated by June. If market dynamics align, XRP could witness a historic price surge. At present, XRP trades at $2.12, reflecting a 4.7% drop in the last 24 hours.
Source: www.newsbtc.com ↗
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