Crypto
- XRP’s bullish trend on monthly charts signals potential for further gains.
- Historical data warns of a 73% drop if XRP hits critical resistance levels.
- RSI and MACD indicate neutral market sentiment with mixed short-term outlook.
XRP’s price moves have analysts divided as to its forward trajectory, with some predicting a massive surge and others a major crash. What happens next could have a big impact on the crypto market.
XRP Could Go Much Higher
Crypto analyst Dark Defender says XRP is following its 2017 monthly trend. Even though there are corrections in shorter time frames, like 4-hour and daily charts, XRP’s overall trend is bullish.
Indicators like the Relative Strength Index (RSI) suggest positive momentum in weekly and monthly charts, meaning XRP’s upward trend.
He also says the monthly chart is similar to historical patterns, which is a promising sign. If XRP follows its 2017 trajectory, its price could increase a lot. Key metrics aren’t overbought yet, so there’s room for more upward movement.
But Watch Out for a Possible Crash
On the other hand, analyst EGRAG CRYPTO says XRP could crash by 73%. This prediction is based on historical data that shows XRP drops when it hits certain resistance points, called “Fork C.” These events have caused big corrections of 64% to 89%, with an average decline of 74%.
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EGRAG says XRP needs to close above $4 on the weekly chart before March 10 to avoid a crash. He also says the market could be volatile because of the lunar eclipse on March 14, which has been linked to price dips.
What XRP’s Technical Indicators Reveal
XRP’s current price of $2.26, with a trading volume of over $7.7 billion. The RSI is at 53.14, which means the market is neutral. If it goes above 60, that would mean bullish momentum. If it drops below 40, that would mean bearish pressure.
The MACD line is close to the signal line, meaning bullish momentum is waning. A downward crossover below zero would confirm bearish dominance in the short term.
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