Analyst Pointed Out the Sign That Will Increase the XRP Price by 900%.

In July, Ripple won a partial victory when a Federal Judge ruled that the company's previous systematic sales of #XRP did not constitute an offer for an investment contract. This decision caused XRP to rise above $0.85. However, it fell to around $0.50 in the following days before recovering.

The Ripple community celebrated two more wins last month. The first was that US judges rejected the SEC's attempt to overturn the initial decision. The second victory came when charges against CEO Brad Garlinghouse and Chief Executive Officer Chris Larsen were dismissed.

This resulted in the largest single-day increase in #XRP's value in several months. Cryptocurrency could see a “God candle” in the near future, according to cryptocurrency trader Tony “The Bull.” Because the last time it formed a specific candlestick pattern, its price increased by 900% in a single candle.

According to the analyst, #XRP formed the same candlestick pattern in late 2017 before the big rally that would see its price increase by a total of 1,600%. Such a rise from the current level of $0.638 would see the token rise to around $11.

The pattern the analyst showed on his chart was before a massive rise in the price of XRP from around $0.16 to $2.7 in late 2017. In particular, he noted that traders' confidence in #XRP is extremely high. He also shared the information that futures positions in Bybit are dominated by long positions.

According to historical data, the price of XRP has generally not been profitable in November in the last five years. The only exception was 2020, when #XRP experienced a significant increase of 178.3%.
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