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This Triangle Pattern Triggered In 2021 Suggests XRP Price Will Surge 5,000% To $32

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4 weeks ago

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The XRP price is trading around the psychological barrier of $0.60 after breaking through earlier in the week. Notably, XRP has exhibited interesting price action amidst wider market uncertainty, although many cryptocurrencies are starting to turn positive. While some market participants are still bearish on XRP, others are looking out for a very bullish trajectory.

A crypto analyst has revealed an XRP technical analysis that many bullish proponents can resonate with. According to the analyst, XRP is set to surge to $32 in the coming months. 

XRP Price Surge Of Epic Proportions

Despite the broader volatility, many cryptocurrencies have begun to show signs of recovery, with XRP also a focal point of interest. The XRP analysis in question was posted through the social media platform X by Tylie Eric. This analysis was accompanied by an XRP / U.S. Dollar price chart on the 1D candlestick timeframe. As such, the price chart shows XRP’s price action as far back as late 2020. Central to the analysis is the depiction of a symmetrical triangle pattern, which has been gradually forming since early 2021, when XRP reached a peak trading value of $1.96.

Over the years, XRP has displayed a series of lower highs and higher lows, which have progressively tightened into a narrower trading range. This pattern is often regarded by technical analysts as a sign of a potential breakout, where the price could move significantly in either direction once there is a breakout.

Recent price action now puts the XRP price trading at the upper trendline of the triangular pattern. A breakout to the upside would cement a bullish rally for the cryptocurrency. According to the price target noted by Tyler, this breakout could see XRP initially surging to its current all-time high of $3.5 before facing resistance.

However, the sheer nature of the bullish breakout would see XRP quickly clearing this resistance and going as high as $32. His timeline for this happening is between now and the end of the year. This projection, if realized, would represent a substantial 5,230% increase from the current price of XRP.

What’s Next For XRP?

Market sentiment around XRP is currently mixed. Tylie Eric’s forecast is particularly bold, predicting that the XRP price could climb as high as $32 by the end of the year. While surges of such proportions are not new to the crypto XRP, the chances of such an XRP surge happening are very slim at the moment. However, XRP has seen several other bullish predictions of a similar nature in recent weeks, particularly in the wake of the conclusion of the Ripple-SEC lawsuit.

On the other hand, a segment of the market remains bearish on XRP. One analyst recently even went so far as calling XRP the “biggest scam in crypto.” At the time of writing, XRP is trading at $0.6008 and is only on a 1.29% gain in a 30-day timeframe. 

XRP price chart from Tradingview.com
XRP price struggles to hold gains | Source: XRPUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com





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Analyst

Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

Published

9 hours ago

on

September 18, 2024

By


Sep 18, 2024 07:35&nbspUTC

| Updated:

Sep 18, 2024 at 07:35&nbspUTC

By&nbspClark

A leading crypto analyst has drawn a bold comparison between ETFSwap (ETFS) and Shiba Inu (SHIB), suggesting that buying ETFS at its current price of $0.03846 could offer the same massive growth potential as investing in Shiba Inu (SHIB) did back in 2020. With such a promising outlook, many investors are paying close attention to this emerging opportunity.

Why ETFSwap (ETFS) Might Surpass Shiba Inu’s 2020 Surge

At its current price of $0.03846, ETFSwap (ETFS) is leading the profitable wave of tokens that have the potential to transform lives in the market. Given the increase in demand for ETFS tokens during the current presale round, the crypto analyst projects that purchasing ETFSwap (ETFS) is like buying Shiba Inu in its initial stages of 2020. 

Beginners in cryptocurrencies can trade ETFs with ease thanks to ETFSwap’s (ETFS) user-friendly interface, which offers excellent profit opportunities around the clock. By enabling swapping between cryptocurrencies and ETFs, ETFSwap (ETFS) facilitates asset transfers across marketplaces with affordable costs and secure interfaces. 

Shiba Inu’s 2020 success is in jeopardy because the cryptocurrency market hasn’t had a platform with this kind of usefulness. Beyond market expectations, the ETFSwap (ETFS) system provides traders within its ecosystem with unparalleled flexibility and liquidity. This is due to the fact that, in contrast to conventional platforms, it permits asset trading without expiration. 

Furthermore, the ETFSwap (ETFS) system outperforms Shiba Inu by giving investors access to financial data via sentiment monitoring, forecasting algorithms, real-time data, and sophisticated analytics via its AI-powered ETF Screener and Tracker. The ETFSwap (ETFS) platform enables tokenized assets secured by stocks from authorized financial markets to be used by MiCa-compliant regulated investment enterprises. 

With the recent acquisition of a SOLIDProof certification of compliance for KYC verification, ETFSwap (ETFS) should be able to offer users more asset control and enhance the ecology of the platform. 

CyberScope audits also validate ETFSwap’s (ETFS) blockchain technology dedication to customer privacy and security. The bold prognosis of the crypto analyst has been drawn to this concentration on a secure trading environment. 

With plans to launch an ETF by 2025, ETFSwap (ETFS) poses a serious threat to Shiba Inu’s 2020 success. The beta platform is set to launch in a few days and is anticipated to increase market momentum. 

Shiba Inu’s Meteoric Rise In 2020

Shiba Inu, a decentralized cryptocurrency that was launched in 2020, saw an incredible increase that made its early supporters wealthy in less than a year. During that year’s incredible ascent, Shiba Inu saw an unprecedented 2,000% increase in value, rising from $0.00001 in 2020 to an all-time high of $0.00008845. 

This was the biggest rise the market had ever seen. Crypto analysts and other investors are keeping a close check on ETFSwap’s (ETFS) current presale round, which is valued at $0.03846, in an attempt to beat Shiba Inu’s record bullish trend of 2020 by getting in early. These investors might profit substantially from the platform if this encouraging trend keeps up. 

Conclusion

The crypto analyst is intrigued by the current ETFSwap (ETFS) presale due to its low price of $0.03846 and the possibility of large rewards. Owing to this demand, the crypto analyst believes that ETFSwap (ETFS) will exceed Shiba Inu’s 2020 performance. 

In less than three days, more than two million tokens have been sold during the current presale round, which is anticipated to conclude soon. Given the price of $0.03846 and the 50% discount on each transaction, the crypto analyst sees the presale phase as an incredible opportunity to improve people’s lives. 

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community

Clark

Head of the technology.

#Press Release

This is a paid press release. Btcwires does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company.





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ADA

Analysts Kick Against Cardano Recovery, Says ADA Price Is Destined For 33% Crash

Published

4 days ago

on

September 15, 2024

By



Este artículo también está disponible en español.

The overall bearish sentiment for Cardano (ADA) continues to rise as analysts now foresee a massive 33% price crash for the altcoin. This pessimistic projection comes as ADA struggles to gain traction in the market, with its value remaining stagnant or steadily dropping to lower levels. 

Cardano (ADA) Crash Incoming

Compared to other prominent altcoins in the crypto market, Cardano has performed poorly, struggling with price declines and sluggish growth. Consequently, a crypto analyst, identified as ‘Financialfreedomgoals’ on TradingView, predicted that cryptocurrency is likely to experience more than a 30% crash to new lows. 

The analyst notes the broader negative state of the current crypto market, highlighting that most altcoins are stuck in a “bearish rut.” He disclosed that rather than achieving new all-time highs, these coins have been setting fresh lows, underscoring the persistent downtrend and decreased confidence amongst investors. 

Cardano, in particular, has had its share of negative sentiment and volatility. The cryptocurrency has stayed unwaveringly below the Exponential Moving Average (EMA) 200 line, a key technical indicator traders often use to gauge long-term trends. Typically, when the price of a cryptocurrency stays below this line, it tends to signal a continuation of a bearish trend. 

Given the present bearish state of the market, the crypto analyst has dismissed the idea of an upcoming altcoin season, where the majority of cryptocurrencies excluding Bitcoin experience significant price gains. 

On the daily time frame, Cardano is trading below the EMA 200 line and the bearish trend line. Initially, a rising wedge pattern had formed on the cryptocurrency’s price chart, however instead of breaking out, Cardano saw a series of negative candlesticks alongside a bearish crossover on the Moving Average Convergence Divergence (MACD). 

This series of negative indicators suggests that bears may be tightening their grip on Cardano’s price. As such, the crypto analyst foresees the ADA continuing its descent to reach fresh lows at target areas: 0.2506 or 0.2197. These targets are calculated using the Fibonacci retracement ratios of 1.272 and 1.618. 

0.3815 Resistance Could Trigger Bullish Surge

Despite maintaining a largely bearish stance on Cardano’s price outlook, Financialfreedomgoals has hinted at a potential bullish turnaround. He has suggested that a price reversal for ADA could be possible if the price of the cryptocurrency manages to break above the key resistance at 0.3815 Fibonacci level. 

Crypto analyst Sssebi shares an even greater bullish outlook for Cardano. He highlights that during the previous bull market, ADA’s value increased by more than 100X. As a result, the analyst believes that ADA will rally by at least 20X in this current market cycle, expressing even stronger confidence that the cryptocurrency will reach $5 soon. 

As of writing, the price of ADA is trading at $0.3576, reflecting a significant increase of 11.39% over the past week, according to CoinMarketCap. 

Cardano ADA price chart from Tradingview.com
ADA price struggles against bears | Source: ADAUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com



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Why Has It Not Hit This Price Yet?

Published

2 weeks ago

on

September 8, 2024

By



Este artículo también está disponible en español.

A crypto analyst has identified the reason behind the XRP price struggle to reach $100. Contrary to what most investors would think, the analyst argues that XRP price struggles are not particularly due to Ripple’s ongoing legal battle with the United States Securities and Exchange Commission (SEC). Rather, he believes that it is a result of an acquired negative perception about XRP amongst investors and the broader crypto community. 

The Truth Behind XRP Price Stagnation

Earlier this month, Levi Rietveld, a popular crypto analyst took to X (formerly Twitter) to discuss the underlying reason why XRP’s price has remained stagnant and why it continues to fall short of reaching the elusive $100 milestone. 

While many may likely attribute XRP’s price woes to its over three years long legal battle with the SEC, Rietveld offers a different perspective. He suggests that XRP’s struggles and lack of widespread global adoption is largely driven by the spread of misinformation, which has been severely damaging and undermining the cryptocurrency and the broader industry. 

The analyst singled out a well known financial expert, Raoul Pal, accusing him of spreading hate towards the XRP community and criticizing him for his negative commentary about XRP. Rietveld emphasized that Pal is a highly respected and influential figure in the crypto community, as such his words can significantly impact or alter the perception of investors. 

Additionally, the analyst revealed that Pal has repeatedly urged XRP investors to abandon the cryptocurrency and invest in what he views as superior alternatives, such as Ethereum (ETH) and Solana (SOL). 

Shedding light on the current market behavior and price dynamics of XRP, Ethereum, and Solana, Rietveld underscored XRP’s strong fundamentals, highlighting that the cryptocurrency has vastly outperformed numerous coins, including SOL. Over the last seven days, XRP’s price has increased by roughly 6%, while Solana is down 0.2% in the same period. 

The analyst also refuted Pal’s assertion that investing in XRP amounts to being a part of a cult, arguing instead that it reflects a genuine belief in the technological innovation of this pioneer cryptocurrency. Rietveld also highlighted comments Pal made during one of his many YouTube videos, where he described XRP as a relic from past bull cycles.

Addressing Pal’s claims, Rietveld disclosed that despite the legal challenges from the Ripple-SEC dispute, XRP has demonstrated remarkable resilience. He noted that the cryptocurrency has also played a crucial role in providing well needed legal clarity for other cryptocurrencies following its classification as a non-security by the court.

Can XRP Hit $100 If Market Sentiment Improves?

During his post, Rietveld praised XRP for its technological prowess, highlighting that the cryptocurrency was fundamentally far superior to 99.9% of all cryptocurrencies in the market. He suggested that XRP’s price could potentially hit the coveted $100 mark if the negative sentiment surrounding the cryptocurrency dissipates. 

To combat this, Rietveld has proposed that XRP supporters should constantly address criticisms of the coin with concrete facts that demonstrate XRP’s value in the market. Additionally, he urged investors to stand against bad actors who spread misinformation and speak ignorantly about XRP.  

XRP price chart from Tradingview.com
XRP price sees multiple dips | Source: XRPUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com



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