XRP is Set for a historical Rally

• 
  XRP
  has
  declined
  by
  3.22%
  in
  seven
  days
  and
  6.33%
  in
  24
  hours.
• 
  Despite
  the
  price
  drops,
  market
  sentiments
  remained
  positive,
  with
  analysts
  eyeing
  $35.

XRP
has
suffered
from
external
speculations
regarding
Ripple’s
ongoing
legal
issues
in
the
last
few
weeks.
Over
this
period,
XRP
has
experienced
high
volatility,
and
prices
have
been
declining.

In
the
previous
seven
days,
XRP
has
declined
by
3.22%.
Despite
these
price
drops,
analysts
are
suggesting
that
it’s
the
end
of
the
bear
trend
and
an
upcoming
trend
reversal.

Pointing
to
historical
data,
various
crypto
analysts
have
argued
that
the
price
will
surge
in
the
coming
months.

According
to
MikybullCrypto,
a
crypto
analyst
on
X
(formerly
Twitter),
the
upcoming
reversal
pattern
based
on
a
2017
similar
trend.
On
his
page,
he
shared
that,

“It
might
pull
a
huge
2017
rally
given
the
current
PA
path
is
following.
The
sentiment
surrounding
it
is
bleak,
which
made
me
believe
such
a
scenario
can
occur”.

Another
analyst
shared
the
same
opinion,
sharing
the
cyclical
pattern
analysis
in
2017
and
how
the
current
trend
mirrors
the
past.

On
his
X
page,
Tylie
Eric
expressed
his
optimism
on
the
upcoming
price
spike,
stating
that,

“BEAT
BY
BEAT.
I
think
XRP
has
ticked
all
the
boxes
and
held
all
requirements
to
continue
with
wave
3
of
wave
5,
the
same
way
it
did
in
2017!”

During
2017,
XRP
made
an
impressive
surge
of
1400%
in
a
year,
even
more
than
BTC
did
within
the
same
period.
Thus,
based
on
the
same
pattern,
in
2017,
the
double
bottom
pattern
pushed
the
prices
to
$0.3.

Thus,
prices
could
rise
to
as
high
as
$35
if
the
same
trend
continues.

What
price
charts
indicates

According
to
AMBCrypto’s
analysis,
XRP
has
experienced
a
downtrend
over
the
past
weeks.
At
press
time,
XRP
traded
at
$0.4523
after
a
6.33%
decline
in
24
hrs.

In
the
same
period,
its
trading
volume
surged
by
69.78%
to
$1.5B.
According
to
CoinMarketCap,
XRP’s
market
cap
has
declined
by
6.33%
to
$25.1B.

Despite
this
price
drop,
the
market
sentiment
remained
largely
positive.
According
to
Coinglass,
XRP’s
Netflow
has
been
negative
for
the
last
month
—
it
was
-$4.03
as
of
this
writing.

A
negative
Netflow
suggests
that
investors
are
withdrawing
assets
from
exchanges
to
store
in
private
wallets.
Such
moves
indicate
that
investors
are
holding
their
crypto
long-term
rather
than
selling
them.

This
is
a
sign
of
confidence
in
the
crypto’s
future
value.

XRP
had
a
Money
Flow
Index
(MFI)
of
38
at
press
time,
indicating
consolidation.
Equally,
MFI
at
this
level
suggested
a
buying
opportunity
since
the
crypto
is
less
expensive.

With
a
buying
opportunity
comes
buying
pressure,
resulting
in
a
trend
reversal.

Looking
further,
AMBCyppto’s
analysis
of
CryptoQuant
showed
that
the
exchange
has
been
high
for
the
last
seven
days.
Over
the
past
week,
XRP
has
reported
a
high
of
$757.7M
and
a
low
of
$1.3M.

This
month,
it
has
reported
a
sustained
high
exchange,
with
a
high
of
$752
M
and
a
low
of
$364M.

Higher
Exchange
Outflow
suggests
increased
holdings
with
investors
keeping
for
the
future.
This
is
a
bullish
sentiment,
with
investors
confident
in
the
altcoin’s
future
price.

Can
XRP
actually
reach
$35?

XRP
has
been
consolidating
for
the
last
seven
days.
With
a
3.22%
decline
in
24
hrs,
the
token
has
been
eyeing
its
next
resistance
level
at
$0.49.

If
XRP
breaks
out
of
this
level
in
a
very
bullish
short-term
scenario,
it
will
attempt
to
challenge
the
$0.549
resistance
zone.

---

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---

However,
after
failing
to
hold
the
support
level
around
$0.459,
if
the
bears
increase
the
selling
pressure,
the
prices
will
further
decline
to
$4.245.

Although
the
market
sentiment
is
positive,
with
metrics
supporting
a
potential
trend
reversal,$35
is
a
long
bite,
and
estimates
predict
that
level
can
be
reached
in
2025.