Analyst JD’s Warning About Missing Out on XRP Price Surge
According to popular crypto analyst JD, there is a group of “dumb money” traders who may miss out on the next price surge of XRP. JD draws parallels to past XRP price action and warns that these traders may overlook the opportunity to get in before the surge.
XRP’s Historical Price Pattern
Many cryptocurrencies tend to repeat or mirror past phenomena in their price action. JD compares the present price pattern of XRP to 2017 when it broke its boring price action that lasted from 2013 to 2017. During this time, “dumb money” traders complained and missed out on the significant gain that followed.
The Breakout and All-Time High
XRP experienced a 600x price gain after breaking out of a 4-year consolidation trendline. This led to its current all-time high of $3.84 in January 2018.
XRP’s Ups and Downs in 2023
XRP has had its share of ups and downs this year due to various updates within the Ripple ecosystem. Despite reaching a yearly high of $0.82 in July, XRP has been trading below this price point since then.
Potential Price Surge Ahead
JD notes that XRP’s current price action is similar to the point at which it broke out of consolidation in 2017. This warns “dumb money” traders who might miss out on the next potential price surge.
Potential Price Targets
JD suggests that an 8-10x surge is more likely according to current technicals, rather than a repeat of a 600x gain. With XRP trading at $0.639, a 10x surge would result in a price target just over $6.
Cup and Handle Formation
JD also points out that XRP’s price is currently forming a cup and handle formation in the 2-day timeframe. If this formation holds, a bullish breakout could see XRP reaching a $0.95 price target.
Hot Take: Don’t Miss Out on XRP’s Potential Surge
XRP’s historical price pattern and current technicals suggest the potential for a significant price surge in the future. Traders who overlook this opportunity may miss out on potential gains. Stay informed and watch for signs of a breakout to make informed investment decisions.
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