In the past seven days, XRP has faced a strong correction consistent with the overall market situation. But today, the XRP price chart has shown many signals that could please holders.

This pattern previously propelled XRP's price to $2.9. Will the same thing happen again?

XRP wants to repeat history

From September 29 to November 6, XRP's price moved within a descending triangle pattern. This bearish pattern has a declining upper trend line and a lower, flatter horizontal trend line.

When dropping below the horizontal line, the price often continues to decline. Conversely, breaking above the upper trend line usually triggers significant growth. Around November 7, XRP broke out of this pattern, resulting in a strong growth of 350%.

The daily chart shows that this token is forming another descending triangle pattern. If history repeats itself, the value of this altcoin could surge again.

Daily analysis of XRP | Source: TradingView

Another indicator supporting this trend is the Money Flow Index (MFI), which measures buying and selling pressure by analyzing price and trading volume.

This indicator fluctuates between 0 and 100. Typically, when the MFI exceeds 80, the asset is in an overbought condition, indicating it may be time to sell. On the other hand, when the index is below 20, it means the asset is in an oversold condition and could be a time to buy.

Currently, the MFI has increased from 42.05 to 61.64, indicating strong buying pressure around XRP. If this situation continues, this altcoin could bounce off the $2.24 area.

Money Flow Index of XRP | Source: TradingView

XRP price prediction: Potential to increase by 43%

Looking at XRP's price movement shows that this asset has consolidated in the range of $2.2 to $2.72 since December 3, indicating hesitation between buyers and sellers.

However, with MFI increasing, the trend may change positively in the short term. At the same time, XPR faces a resistance level at $2.9. To overcome this level, buying pressure needs to be stronger than the current level.

XRP Analysis – 1 Day | Source: TradingView

If so, the value of this altcoin could increase by about 43% to $3.2. On the other hand, failing to break the resistance level of $2.9 could invalidate this prediction. In that case, the price of XRP could drop to $1.4.



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