In a recent tweet, the pseudonymous analyst Armando Pantoja predicted that this is the last chance for the asset to trade under $1. The analyst noted that the last time a pattern like this occurred, XRP went from pennies to over $3, recorded on January 4, 2018.
XRP has risen 9.20% in the last 24 hours, trading at $0.71. Its 24-hour trading volume is over $5.8 billion.
Can XRP Meet Price Pump Expectations?
Crypto enthusiast CoinsKid also recently tweeted an XRP/BTC weekly chart, suggesting a potentially significant price movement for XRP against Bitcoin. If XRP shows signs of strength against Bitcoin, it may indicate an opportunity for XRP to gain momentum.
CoinKid pointed out a weekly bullish divergence on the chart, implying that XRP could prepare for a significant price surge.
In technical analysis, a bullish divergence usually happens when the price moves downward while momentum indicators, such as the Relative Strength Index (RSI), trend upward, often indicating a potential reversal.
The chart showed that XRP/BTC has been in a prolonged downtrend, approaching support zones near the 0.0000620 and 0.0000440 BTC levels.
Meanwhile, the RSI moved opposite the price, indicating growing momentum despite the decline. This divergence between the RSI and price action suggests that the downtrend is losing strength, positioning the token for a reversal.
CoinsKid also highlighted Bitcoin’s approach to the 1.414 Fibonacci level and the nearing target for USDT (Tether) dominance. These factors could be pivotal in XRP’s potential breakout, as BTC reactions around key Fibonacci levels often influence the wider crypto market.
CoinsKid’s tweet drew attention, with numerous users sharing their perspectives on XRP’s potential price shifts.
Can Ripple’s Legal Battle Fuel XRP Price Movement?
An X user named Puppeteer also highlighted that XRP’s future direction will likely rely on regulatory developments, mainly due to Ripple’s ongoing legal challenges with the U.S. Securities and Exchange Commission (SEC).
Ripple’s legal battle has influenced XRP market performance, and any regulatory clarity could drive the token’s price momentum. Puppeteer stressed that positive legal results for Ripple might trigger a breakout for XRP.
