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Author: Scott Matherson

Bitcoin RSI Targets Daily Retest That Triggered 2024 Price Rally, What Happened Last Time

Crypto analyst Rekt Capital recently discussed the Bitcoin price action and provided insights into the flagship cryptos future trajectory. Specifically, he alluded to BTCs RSI, which is showing a similar pattern to last year, just before the rally to new highs. Bitcoins RSI Targeting Daily Retest That Triggered 2024 Price Rally In an X post, Rekt Capital revealed that Bitcoins RSI is targeting a daily retest that triggered the 2024 price rally. He mentioned that last week, the daily RSI successfully performed a post-breakout retest of the RSI downtrend, which dates back to November 2024, to confirm the breakout. He added that the RSI is now going for another retest of that same downtrend. Related Reading: Analyst Says Bitcoin RSI Dominance Needs To Crash To This Level For The Bull Run To Resume The Bitcoin price rallied to $100,000 during this November 2024 period following Donald Trumps victory in the US presidential elections. Rekt Capitals accompanying chart showed that the RSI is retesting the 40 zone, with a break below this level likely to spark another downtrend for the flagship crypto. On the other hand, holding above this RSI level could spark another uptrend for BTC, sending its price to new highs. However, the Bitcoin price looks more likely to face another major correction at the moment, having dropped from its weekly high of around $88,500 to below $84,000 on Friday. Macro factors like Donald Trumps tariffs and the US Federal Reserves quantitative tightening policies are weakening the flagship cryptos bullish momentum. Trading firm QCP Capital opined that any short-term upside for the Bitcoin price remains capped as markets wait for clarity from Trumps next move in the escalating trade war. The PCE inflation data, which was released on Friday, also sparked a bearish outlook for BTC as the core index rose beyond expectations. BTC Could Form Local Bottom At Current Price Level Crypto analyst Titan of Crypto suggested that the Bitcoin price could form a local bottom at its current price level. He noted that BTC is still holding above a strong confluence of supports, including the monthly Tenkan and midline of the monthly Fair Value Gap. The analyst added that the last two times BTC has held these supports, it has marked a local bottom. Related Reading: Popular Analyst PlanB Expects Bitcoin Price To Double In 2025 As Bear Market Is Not Here In an earlier post, Titan of Crypto had raised the possibility of the Bitcoin price rallying to $91,000 soon. He stated that a bullish pennant had formed on the 4-hour chart. According to him, if this pattern breaks to the upside, the BTC target is around $91,400. Meanwhile, legendary trader Peter Brandt looks bearish as he recently predicted that BTC could drop to as low as $65,635. At the time of writing, the Bitcoin price is trading at around $83,900, down over 2% in the last 24 hours, according to data from CoinMarketCap. Featured image from Unsplash, chart from Tradingview.com

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XRP Price Could Suffer April Flash Crash, Analyst Shows How Low It Could Go

Author: Scott Matherson

United Kingdom

Source: NewsBTC

Mar 25, 2025 12:10

XRP Price Could Suffer April Flash Crash, Analyst Shows How Low It Could Go

The XRP price has been consolidating for an extended period after its previous rally. However, a crypto analyst warns that the cryptocurrency could face a flash crash in April, potentially driving its price to new lows. Despite this, the analyst anticipated that the downturn may be short-lived, predicting a rebound shortly after. MetaShackle, a crypto analyst on TradingView, has shared a chart presenting an Elliott Wave-based analysis of XRPs price movements. The analyst has also used technical levels such as Fair Value Gaps (FVGs), liquidity zones, and trendlines to determine XRP’s next price action. XRP Price False Breakout Ahead Of Flash Crash According to MetaShackles analysis, XRP may be heading for a false breakout in the coming weeks, followed by a sudden flash crash that could liquidate overleveraged traders. While this deep correction could shake out weak hands, the analyst also outlines a path for a massive rally later in the Second Quarter (Q2) of 2025, potentially pushing XRP to a new all-time high. Related Reading: XRP Price Continuation After Crash Below $2.4? New Targets Emerge The XRP price chart follows an advanced 6-wave pattern, with a potential 7th-wave breakout. XRP is currently in Wave 4 of a larger cycle. While Waves 1 to 3 represented a strong upward move, Wave 4 triggered a major correction for the XRP price. If Wave 4 is completed, the cryptocurrencys price could push higher into Wave 5, reaching $2.80 – $3.00, where an FVG awaits. This move would create a false breakout, taking out liquidity above recent highs. After the projected false breakout, XRP is expected to experience a flash crash in Wave 6 by April 2025. This flash crash will likely hold above the lower white trendline after breaking the upper trendline and targeting the green target area between $1.6 and $1.4 $highlighted by the chart. The flash crash in April is a theoretical move in which the XRP price retraces sharply before a real breakout. This breakout is expected to start in Wave 7, potentially leading to a price discovery for XRP and reaching a likely target of $3.00 before skyrocketing to new highs above $3.6. Notably, the analyst predicts that Wave 7 will begin in May 2025. The breakout is anticipated to take out previous all-time highs for the altcoin, surpassing its $3.84 price record in 2018. Update On Price Analysis The XRP price is now trading at $2.44 after increasing by 4.56% in the past week. Despite a sharp price crash from its $3.00 high earlier this year, the cryptocurrency remains resilient, and analysts are closely watching its next move. Related Reading: XRP Threatens Death Cross On 4-Hour Chart, Is Another Crash Coming? Notably, analysts continue to take a bullish stance on the XRP price outlook, predicting a potential breakout in the short term. An X (formerly Twitter) market expert, identified as Steph Is Crypto, forecasts that the asset could surge to $3.4 soon, marking a 39.34% jump from its market price. Featured image from Adobe Stock, chart from Tradingview.com

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Pundit Who Correctly Predicted XRP Price Crash To $2.5 Says Demand Zone Will Send It Soaring

Author: Scott Matherson

United Kingdom

Source: NewsBTC

Feb 20, 2025 12:05

Pundit Who Correctly Predicted XRP Price Crash To $2.5 Says Demand Zone Will Send It Soaring

XRP’s price trajectory has had ups and downs in the past two weeks. Particularly, the large part of the past seven days was characterized by a notable decline from $2.8 to $2.5 before rebounding at this level. Interestingly, this fall towards $2.5 was highlighted by a crypto analyst on the TradingView platform, who also noted a breakout potential. Crypto analyst TehThomas previously identified the $2.5 level as a key Fair Value Gap (FVG) that could act as strong support and recent price movements suggest that buyers are now stepping in after hitting this level. XRP Tests Key Fair Value Gap At $2.50 TehThomas analysis highlighted $2.50 as a significant liquidity zone where XRP could establish support before continuing its uptrend. This level has acted as an imbalance in price action during this cycle and has often caused a reaction as traders step in to fill the gap. At the time of the analysis, XRP was trading at $2.64, but the analyst noted that the cryptocurrency could keep falling until it reaches $2.5 and rebounds upwards. Related Reading: XRP Price Breaks Out Of Symmetrical Triangle Pattern, Why The Target Is $8 Over the past two days, XRP has moved in line with this projection. The cryptocurrency retraced from $2.64, dipping to as low as $2.47 before showing a swift recovery. The rapid bounce from this zone indicates that buy orders were concentrated at this level, and bulls who anticipated a reaction here also stepped in. Now that the decline and rebound have played out as expected, the focus is now on how XRP will behave in the next few days. Having tested and respected this $2.5 support zone, the next question is whether the bulls can build on this momentum and push upward. Demand Zone To Send The Altcoin Soaring With the Fair Value Gap showing signs of acting as strong support, crypto analyst TehThomas believes the next critical step for XRP is breaking above a descending resistance trendline. The breakout point for this descending resistance trendline is around $2.65, and the path between $2.5 and $2.6 is the demand zone for opening long positions. However, there is also the possibility of a retest of the descending resistance trendline after a breakout. If the XRP price can successfully retest and hold above the trendline, it will provide confirmation of the bullish momentum for a further upside move. Related Reading: XRP Price Eyes Bullish Flag Breakout That Could Put 50% Gains On The Board Should this scenario play out, XRPs next target sits at $3.00, which is another key Fair Value Gap. TehThomas notes that reclaiming this level could trigger an extended rally, with further upside potential beyond $3 depending on market conditions. At the time of writing, XRP is trading at $2.55. Featured image from Adobe Stock, chart from Tradingview.com

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