XRP would be forming a bullish flag. What’s next for Ripple's cryptocurrency?

Technical analysis allows for estimating the upcoming price movements of XRP.

XRP is going through a correction period within a macro bullish trend.

Analyst Jacobo Maximiliano believes that XRP could reach 7 dollars in this cycle.

The cryptocurrency issued by Ripple Labs, XRP, has been one of the highlights of the last month.

Since Donald Trump was declared the winner of the presidential elections in the United States, XRP experienced a rise that took it to 2.90 dollars. Such prices had not been seen for XRP since the end of 2017.

Then, XRP entered a corrective period in which it currently finds itself.

The following chart, provided by TradingView, allows observing the behavior of XRP since August 1, with candles (red or green vertical bars of 4 hours).

Many may be wondering, is this the end of the XRP rise? Is the bullish cycle over for Ripple's cryptocurrency?

If it were so, that wouldn’t be bad. After all, XRP had a remarkable 280% rise in the last 365 days.

However, there are reasons to believe that XRP still has bullish potential.

From the perspective of chart analysis and technical analysis, signs of the formation of a structure known as a bullish flag are detected. This pattern is generally characterized by a strong initial movement (the flagpole), followed by a consolidation period with converging highs and lows (the flag), which tends to resolve in the direction of the previous trend.

If such an appreciation were accurate, then XRP is just having a natural and organic pause within a macro bullish trend that is still not over.

Thus, Ripple's cryptocurrency could perhaps see new all-time highs in this bullish cycle, perhaps this year or in 2025.