The post XRP Update: Chart Patterns Signal a Bullish Surge Ahead appeared first on Coinpedia Fintech News
XRP has surged 551% since the US Election on November 5, 2024. If we zoom out the chart and start checking the token movement since 2014, we will find a pattern. Let’s explore what the charts are showing us and what we should expect after analysing the market data.
Repeating XRP Chart Pattern
Look at the pattern formation on XRP charts from 2013 to 2017 and 2017 to 2025. You would be shocked to know that they are exactly the same. It looks like the chart patterns are repeating themselves.
From August 2013 to December 2013, the price rose higher and higher till it made an ATH and then started to fall. It kept moving downwards for almost a year before the next rise. In reality, it created a symmetrical triangle over the period of four years. It did the same thing again but now it took twice the time.
RSI Exploiting Zones
The Relative Strength Index is supposed to respect the rules of overbought and oversold and shift accordingly. This is actually a common perception while in reality, RSI only shows the direction of momentum just like ADX.
Looking at the RSI on XRP chart over the years, a common trader would say it is exploiting the zones however it is not. Its movements above 80 or even 90 shows the force of momentum it witnessed during those periods.
The Current Movement of XRP
At the time of writing, XRP is trading at $3.33207 and it is so close to breaking the All Time High from 7 years ago. The price has not tested the support. Data suggests that this zone has been a great resistance and can act the same on becoming a support. The bigger picture behind XRP is that it has always moved upside even when the market is down. Check the weekly chart and you would notice that it has always created higher lows and there are no lower lows, which makes it a special token.
What To Expect
Even though XRP has been struggling with the legal matters with the SEC, it has always kept its head up. Some people might say it has not received enough rally that it deserves but as we see the charts, we feel it has always moved up no matter the market conditions. We don’t have to set unrealistic price targets and focus on the overall growth. We can expect a new ATH any day soon and with all the developments, there is no stopping XRP.
