XRP 90-Day Countdown: Will History Repeat and Trigger a New All-Time High?
- XRP could reach a new ATH in 90120 days, based on RSI patterns seen in past bull market cycles.
- Historical RSI trends in 2017 and 2021 suggest XRP often forms a second peak months after the first during bull runs.
- The analysis shows RSI behaviour mirroring past rallies, but no exact price target or external factors were considered.
Ripple (XRP) could be anywhere from 90 to 120 days from a new all-time high. In an X post on Friday, Egrag pointed out that the prediction is based only on following several RSI patterns of token in several past market cycles.
This analyst claimed that during bull runs, XRP exhibits two trending points; a first one and a second one. In 2017, the second peak was recorded 120 days from the first one. By 2021, it re-emerged approximately 90 days later. These timelines constitute the foundation of the current projection which implies the same trends of behaviour in the next similar durations.
XRP Near Key Level
From the chart provided by Egrag, there are similar RSI patterns that can be observed to have coupled-up with price increases in earlier cycles. Based on the present RSI movement in comparison to past rallys, the analyst concludes that XRP may be near another major price level. Nevertheless, it is essential to note that no specific price level was given by the author in the post.
Hence, it may take between 90 to 120 days and this possibility is well illustrated through the use of historical data. Market timing is then defined specifically as the number of previous market cycles that it will take before the market returns to its starting point in their marketing model or follows a different timing pattern.
Uncertain Path Ahead
The analysis focuses on RSI trends, without reference to external variables such as regulation or macroeconomic events. However, other aspects could contribute to the volatility of XRP/USD besides the RSI such as the volume, sentiment or legal issues concerning Ripple Labs.
As of press time, XRP is trading at $2.19, showing a 5.50% decline over the past day. Traders and analysts may continue to track token for several weeks in order to determine whether the current conditions are indicative of the state portrayed in the RSI based model.
Source: TradingView
The analysis is not investment advice, but it follows the technical thread on possible XRP price movement. Whether this token will be able to hit a new ATH within the said timeframe is still uncertain.
Read more: https://www.tronweekly.com/xrp-90-day-countdown-will-history-repeat-and/
Text source: TronWeekly
