- XRP will rally if the RSI holds at level 65.
- Bollinger Band’s expansion supports XRP’s bullish projection.
- Ripple’s partial victory boosted XRP’s price movement.
A well-known crypto analyst on X has shared a positive analysis for XRP, if one thing happens. The analyst used two well-known indicators to give what many would see as a simple way to look at a crypto pair, given the complicated market lately.
RSI at Critical Juncture for XRP
In his latest post, the analyst noted that the RSI indicator on the XRP/USD chart had dropped to the crucial 65 points level and thinks the level needs to hold firm to avoid a further price decline. According to the analyst, based on historical behavior, holding above this level will cause XRP to pump.
In the meantime, the analyst applied the Bollinger Bands indicator in his analysis, combining it with the RSI to project the next target for XRP if the rally kicks in. For the price projection, the analyst based his logic on XRP’s past pattern of the RSI going for the top of the range in an expanded Bollinger Band during bull runs.
Related: XRP Price Prediction February 26: Can It Hold Above $2.25 or Face a Bearish Reversal?
Thus, the renowned analyst expects the RSI to reverse its current downward direction, moving from the 65-point level and heading towards 85 points, being at the top of the expanded Bollinger Bands.
Even though the analyst didn’t talk about XRP prices directly in his analysis, the amount of data he used points to a long-term view, looking at the data over time.
XRP’s Long-Awaited Rally?
XRP has been in the spotlight for many years, but the energy around the cryptocurrency increased after Ripple’s partial victory against the SEC in 2023.
Ever since then, expectations around the altcoin have increased, especially after the changes at the SEC and with recent developments pointing toward a final settlement of the case.
Related: Ripple SEC Settlement May Arrive by April, Says Lawyer
It is worth noting that XRP investors hope for a significant rally and favor trend projections like the analyst spotted. However, such investors remain vigilant, as the crypto market’s movement depends on several dynamics.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
