XRP (XRP) May Be Primed for a Major Bull Run, Analyst Moon Lambo Says

Despite XRP’s beaten-down price against Bitcoin, indicators like the Relative Strength Index suggest a major bullish run may be forthcoming.

Key technical indicators, such as the Relative Strength Index (RSI), are suggesting that XRP may be gearing up for a major bullish run, despite its battered price against Bitcoin. According to recent analysis by a crypto analyst known as Moon Lambo, certain historical metrics are indicating the possibility of a bull run when XRP's metrics align as they currently do.

The analyst also highlighted the significance of traditional markets, like equities, in influencing the performance of altcoins, such as XRP. Based on historical data, for altcoins to achieve substantial gains, the traditional markets need to experience major movements. Here is a summary of Moon Lambo's latest analysis:

XRP Bollinger Bands Analysis:

Bollinger Bands are a technical analysis tool used to assess market volatility. On a monthly time frame, the bands are tightening for XRP, which has historically preceded significant price movements. Past instances of such tight squeezes within the Bollinger Bands have led to massive price rallies for XRP.

The tightening Bollinger Bands indicate low volatility and a consolidation phase, which often precedes a significant breakout. This breakout can be either upwards or downwards, but given the broader market context, an upwards movement is anticipated.

The last similar event occurred when XRP was trading at half a penny in February 2017. Following that squeeze, XRP experienced a major price increase.

Market Sentiment and Historical Context:

Even though the market sentiments are currently bearish and there is a downturn in the market, these conditions have historically preceded substantial upwards movements in XRP's price. XRP recently experienced a 40% drop from its yearly high of 74 cents, which was influenced by broader market trends and events, such as Bitcoin's crash and selling pressure from specific entities.

Conclusion:

According to the analyst, the market experienced an explosive rally, reaching XRP's all-time high of $3.31 in January 2018, which amounted to a 5932.5% increase over one year. As the Bollinger Bands are now displaying a similar pattern, analysts anticipate another big surge. The analyst agrees with this outlook but refrains from predicting precise prices, stating that the market has historically experienced strong growth and could continue this trend as it expands.

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