Analyst "XRP is Ready for a Big Rally" Said, Revealed the Only Necessary Condition!

The November victory of Donald Trump sparked a rally in Bitcoin (BTC) and altcoins, with Bitcoin and XRP being the two cryptocurrencies that benefited the most from this victory.

At this point, as Bitcoin reaches new highs above $108,000 in its rally, XRP is approaching the $3 limit.

XRP, although it failed to exceed 3 dollars, has achieved a significant success by experiencing an increase of over 350% since November.

Market analyst Omkar Godbole stated that the XRP's upward trend is not over yet.

The analyst who examined the XRP chart said that XRP has formed a "descending triangle" pattern since its peak of $2.9 in early December.

According to the analyst's technical analysis, a bullish breakout from this pattern could lead to XRP continuing its uptrend and experiencing a price increase of 40% or more.

According to the technical analysis theory of the CMT Association, descending triangles usually end with a downward break. However, bull breaks can also occur and provide an average gain of %47 to %16.

In other words, according to the analysis, there is a descending triangle formation in XRP, and if this pattern breaks to the upside, the XRP price could increase by 40% or more.

This could signal the restart of the previous bull run that came from the low levels around $0.5 at the beginning of last November.

However, if the price breaks out of the price model and falls below the horizontal support line around $2.00, all bullish bets will be canceled.

XRP continues to trade at $2.32 during the writing process.