The XRP price is once again at a technical level that in the past has often marked the beginning of powerful increases. A well-known crypto analyst points to a striking signal on the monthly chart that, according to him, always preceded major price movements of Ripple’s currency.
According to market watchers, the current situation shows strong similarities with previous periods in which XRP suddenly increased sharply in value after months of relative silence.
XRP price is approaching crucial RSI zone
Crypto analyst Austin shared an analysis of the monthly Relative Strength Index on X. This indicator shows whether a coin is overbought or oversold. According to Austin, every major XRP rally in the past started when the monthly RSI returned to the 47 to 48 area.
That zone acted as a clear technical bottom in previous market cycles. Once the RSI reached this level and then turned higher, an extended period of rising prices followed, according to his analysis. Austin emphasizes that the RSI has now re-entered this crucial zone.
His message suggests that XRP is currently in a similar phase to just before previous major breakouts, when the price transitioned from long-term consolidation to a new expansion.
Caution remains among investors
Yet not everyone is immediately convinced. There is also doubt under the message. X user QuantumVelocities responds cautiously, pointing out that several signals that have been presented as bullish recently have not yet produced a real breakthrough.
He indicates that he has confidence in the long-term direction of the crypto market, and in projects with a clear role such as Ripple. But he says it remains difficult to say when exactly the next big increase will start and how strong it will be.
That reaction touches on a feeling that many investors have. Technical patterns can provide hope, but they do not provide certainty. What worked before doesn’t have to be repeated exactly.
With his analysis, Austin points to a level that in the past was often the start of major movements. Whether XRP will enter such a phase again will remain to be seen in the coming period. Until then, investors are eagerly watching the development of the XRP price.
Source: https://newsbit.nl/crypto-analist-elke-grote-xrp-stijging-begon-bij-dit-ene-signaal/
