"When this signal appears, it always surged"...XRP, on the verge of the same pattern erupting again.

▲ XRP

XRP is once again forming a key signal that has triggered bull markets in the past, raising the possibility of a large-scale upward cycle being reproduced.

According to the virtual asset specialized media The Crypto Basic on April 22 (local time), market analyst Chart Nerd analyzed that XRP is redrawing a structural pattern that has been repeated since 2020. The key point is that a strong bull market began every time the long-term upward trend line was retested.

The same trend was confirmed in past cases. XRP continued its sharp rally after touching the upward trend line at $0.11 in 2020 and around $0.30 in 2022 and 2023. Subsequently, it rose to $1.96 and $3.6 respectively, forming a bull market.

Currently, XRP is still moving within a downward channel and remains in a correction phase. The analyst suggested that despite the possibility of a short-term rebound, further declines could follow, and the retest range for the long-term upward trend line is between $0.70 and $0.90. It is diagnosed that there is a high probability of a new cycle low forming in this range.

The important point is that if this pattern repeats, the subsequent upward movement will be very significant. In the past, after reconfirming the upward trend line, a strong bull market began after a long period of consolidation. The analyst emphasized that the current structure is similar to the period immediately preceding the major uptrend that lasted from 2013 to 2017.

More aggressive price targets were presented in the long-term outlook. If XRP breaks its previous high of $3.6, it could enter a price discovery phase, opening up potential for an ascent to a maximum of $27. If this signal activates again, there is a possibility that the same explosive upward cycle from the past will be reproduced.

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