🔥🔥🔥 $XRP ’s Bullish Signs Resemble 2016 Surge as Hidden Bull Divergence Signals Possible Breakout
XRP Signals Potential Rally, Echoes of 2016-2017 Surge
- XRP, currently at $0.5634, is consolidating between key levels:
support at $0.5634 and resistance at $0.60. Technical indicators suggest a potential trend reversal could be imminent if bullish momentum picks up, as signaled by the MACD.
- #CryptoAnalyst @JavonTM1 notes that XRP's current pattern mirrors its historic performance from 2016-2017, when it surged over 50,000%. While exact repetitions are rare, signs suggest a similar bullish trajectory might be forming.
Hidden Bullish Divergence
- XRP is showing hidden bullish divergence, where higher lows in price contrast with lower lows in the RSI, indicating underlying strength. This pattern previously preceded a significant rally in 2017. Recent analysis suggests a similar move could be underway, with traders watching for a breakout aligned with this pattern.
Current Trading and Indicators
- The XRP/USDT pair is consolidating at $0.5634. The RSI is neutral at 49.71, and the #MACD shows diminishing bearish momentum, hinting at a possible trend reversal. A breakout above $0.60 could signal the start of a bullish trend, potentially leading to a significant upward move.
Source - cryptonewsland.com
