đ±đ„XRP is ready to rise: It reminds of the bull in 2021!đđ
#XRP which has gained nearly 30 percent since July, may continue its rise in the coming months.
Cointelegraph, which revealed the price chart formed in XRP, claimed that it is reminiscent of the 500 percent bull run that the popular cryptocurrency carried out in 2021.
A formation formed on the $XRP price chart indicates a rise of nearly 500 percent.
XRP is gathering strength: Will the rise begin?
XRP, which has gained strength against Bitcoin (BTC), has approached a significant resistance point.
The XRP/BTC trading pair jumped over 50 percent after forming a local bottom in early June. It managed to win Ripple's case behind the rise in question.
During the 2021 rally, XRP/BTC encountered resistance at its 50-week exponential moving average (EMA), causing a pullback before continuing its upward momentum. A similar pattern emerged in August 2024, and after a test flight of the 50-week EMA, it pulled back.
Looking at the structural features of XRP, Cointelegraph suggested that if the price resistance in the BTC parity is broken, XRP will make a rise like in 2021.
According to the analysis in the news, the popular cryptocurrency will increase by 100 percent by the end of 2024.
Bitcoin halving, XRP's decline Cointelegraph stated that one of the bullish signals that emerged in XRP is the Bitcoin halving. Bitcoin market dominance has signed a potential peak in the halving.
Stating that BTC dominance fell by 70 percent after the second halving in July 2016, Cointelegraph reported that it turned to altcoins like XRP in the same period.
The data saw XRP see more buying interest than most of the top cryptocurrencies, including BTC, in 2024. The interest from investors supported XRPâs 30% rally.
