Famous cryptocurrency analyst JD XRP Bottom Prediction The next XRP price surge from the $0.28 price level has warned that ‘dumb money’ traders will go missing. According to JD, these traders may overlook opportunities to move higher before the next price surge, similar to the following: Historical XRP Price Action.
Analyst JD draws parallels with past XRP trends.
Despite the volatile nature of the cryptocurrency market, most cryptocurrencies are known to repeat or reflect past phenomena in their price action. As a result, it is very common for cryptocurrency analysts to look to the past and evaluate current trends when trying to predict the future movement of a cryptocurrency.
The expert compared the current price pattern to 2017, the year when XRP finally broke the boring price action that lasted from 2013 to 2017. Looking at this cycle, we can see that XRP is underperforming compared to other cryptocurrencies. As a result, ‘dumb money’ traders complained and ran away, missing out on the incredible profits that came later.
However, XRP would experience a 600x price increase after breaking out of its 4-year consolidated trendline. As a result, the cryptocurrency reached its current high of $3.84 in January 2018.
XRP ups and downs This year has been marked by various updates within the Ripple ecosystem. The cryptocurrency surged in price mid-year, reaching a yearly high of $0.82 in July. XRP Trading below this price range Although most cryptocurrencies have been registered since then, new annual high In the last quarter of this year.
JD noted that XRP’s price action is currently mimicking where the consolidation broke down in 2017 and is warning ‘dumb money’ traders who could miss out on the next potential price surge.
#XRP – I remember in 2017, “Stupid Money” surrendered after 4 years of “boring emotional” action with other coins🚀📈
“Stupid money” complained and surrendered for missing out on 600x profits LOL!
The current pattern is the same as in 2017. I need more stupid money before I complain 🚀📈 LOL! $XRP… pic.twitter.com/tbyckfYA8V
– JD 🇵🇭 (@jaydee_757) December 26, 2023
Token price sitting at $0.64 Source: XRPUSD On Tradingview.com
XRP Price Target
XRP has grown tremendously As of 2017, its current market capitalization is over $34 billion. When asked about a potential price target, JD pointed out that a 600x repeat in case of a breakout would be unrealistic at this point. According to current technology, an 8-10x surge is more likely. With XRP currently trading at $0.639, you would profit if the price surged 10x.Ice Target for just over $6..
In another chart shared by the analyst, he pointed out that the price of XRP has been forming a cup and handle formation for two days now. If this formation holds, a bullish breakout would push XRP towards the $0.95 price target.
#XRP – As long as the handle isn’t broken to 50% of the cup size, C&H will work!
This might be what you need to break through symmetrical triangles on a logarithmic scale! Loaded at 0.28, 0.33, 0.45, 0.52, 0.59 during FEAR! Be prepared to have it both ways!
Please retweet/like for updates!… pic.twitter.com/T67EhrHKO2
– JD 🇵🇭 (@jaydee_757) December 28, 2023
Featured image from Bitcoin News, Chart from Tradingview.com
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