History has undoubtedly been a major player in the crypto space. The market bulls are not so active as they were few days back, and people want to know the stand of experienced analysts on major coins like Bitcoin, Ethereum and XRP to determine the exit time.
In this line, an analyst on twitter, CryptoManiac101, predicted that the present trend is just a retracement break for price correction toward a major bull run. He said XRP is just days away from a major price break out.
— CryptoManiac101 (NOT GIVING AWAY CRYPTO) (@_Crypto_Maniac_) May 18, 2019
CryptoManiac who seems to be an XRP enthusiast, in a more elaborating report said XRP market trend is at present sitting on 740+ strong support line.
He posited that the historical movement of XRP on the 5–6 years market chart shows that October 2013 price ‘PUMP’ is similar to the ‘BULL RUN’ of 2017/2018 with a value increase around 100,000% between the two periods.
A proper look at XRP/USD chart during the accumulation period between 2014 and 2017, signals that we are near getting an exact movement of what we saw in the pre major bull run of the 2014–2017 period. The chart reveals that we have similar ‘accumulation’ movement which consists of newer, an alike long term trend line which is very active with a strong support and a comparable formation of ‘symmetrical triangular’ pattern and breakout.
Comparing Symmetrical Triangular Breakout of Forex Market and XRP / USD Movement.
Crypto Maniac, in his report said XRP/USD has been consistently presenting Lower Highs and Higher Lows along the 740+ days support line, and we can see a Symmetrical triangle with bullish continuation. The triangle pattern also gives a strong signal for a soon to be confirmed bullish break out.
XRP Short Term Price Prediction
The analyst envisioned that XRP looks bullish in the short term with a parabolic curve that would likely thrust XRP price above 50 cents this weekend and towards the beginning of next week.
In the worst case scenario, Maniac predicted if we break the parabolic curve downward, we would get a correction in form of accumulation near the 30 cent support.
XRP Long Term Price Prediction
On the long term scale, the trade pair XRP/USD looks quite bullish. The pair has recorded its lowest RSI, bounced off the 2 year trend line, and it is still within the undersold lows.
The display from the similar RSI, MACD Histogram and Price movement seems fascinating, and the fact that we are just few meters away from the projected May 20 candle close which tallies with the previous reversal trend from the bear to the bull is another intriguing update.
In line with the above prediction, we have about 7–14 days away from a trend reversal. Crypto Maniac concluded that the market cap movement of Bitcoin and XRP in the last few days shows all are set for an immense move.