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XRP

Market Strategist: What You Should Expect For The XRP Next Leg

Scott Matherson
by Scott Matherson
2 weeks ago
·
Posted in XRP
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

XRP has been stuck under $3 for much of the past two weeks and is struggling to build the kind of momentum traders have been waiting for, alongside the rest of the crypto market. That picture has started to change in the past day, as the price began climbing back toward $3. 

This shift comes as market commentators are revealing different bullish technical setups, with one of the loudest voices being Altcoin Gordon, who believes the next move for XRP won’t just be higher, but it will be fast and aggressive.

Next XRP Move Will Be Fast And Aggressive

Altcoin Gordon, who has built a reputation for bold commentary on the crypto market, issued an important call for crypto traders on the social media platform X. The analyst didn’t hesitate with words on his post, noting that XRP’s next move is going to be fast and aggressive. According to him, the best course of action now is to be “either positioned BEFORE it happens, or begin for an entry once it does.”

Related Reading: Pundit Says October Will Be A Gamechanger For XRP, What Does He Mean?

Gordon’s perspective is rooted in how the altcoin has been trading inside a descending triangle on the daily candlestick timeframe chart. This structure has become evident considering that the XRP price has bounced off the same support level about three times since early August. Particularly, the chart setup Gordon points to shows the asset holding a key support around $2.70 multiple times.

XRP
Source: Chart from Altcoin Gordon on X

The structure suggests pressure is building, and once the upper resistance trendline gives way, the breakout could come with speed. According to Gordon’s projection on the daily chart, the first stop is breaking above the resistance trendline currently around $3. However, the real acceleration would likely push XRP to $3.6 and above to new all-time highs.

Longer-Term Signals Point Toward Bigger Gains

Gordon’s focus is on the immediate breakout, but his outlook gains weight when combined with longer-term projections from other analysts. For instance, crypto analyst Mikybull Crypto drew attention to XRP’s performance on the three-month candlestick chart, noting that the coin has flipped green for the first time since 2017. 

Related Reading: Expert Says No ‘Magic Switch’ For XRP Price, Here’s What Can Drive Price Above $2,500

Such signal coincided with the start of the major uptrend in 2017 that pushed the token price to unprecedented price levels at the time. If history repeats itself, its price could be on the verge of something much larger than just a rally to $3 or $3.6. Mikybull’s analysis predicts that the XRP price could reach anywhere between $5 and $15 on the macro uptrend. 

At the time of writing, the altcoin is trading at $2.98, having increased by about 4.8% in the past 24 hours. CoinCodex’s algorithm also predicts that XRP will reach above $4 within the next six months, specifically a $4.20 price target. This projection was shared by the official CoinCodex account in a direct response to Altcoin Gordon’s post on X.

XRP
XRP trading at $2.98 on the 1D chart | Source: XRPUSDT on Tradingview.com
Featured image from Getty Images, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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