- Altcoin Ripple’s XRP breaks out of downtrend pattern.
- Analysts expect a momentum shift for the popular altcoin.
- XRP price is expected to hit several ATH targets this altseason.
Several altcoins are showing highly bullish signals while printing bullish indicators on their respective price charts. With the price of ETH having dipped into the price discovery range, the expected altseason peak phase arrival grows stronger. Most recently, Ripple’s XRP breaks out of downtrend pattern signaling a possibility for a parabolic price pump. Analysts expect a momentum shift for the altcoin.
XRP Breaks Out of Downtrend Pattern
The price of Ethereum (ETH), the pioneer altcoin asset, set its first ATH price for the ongoing bull cycle at the $4,900 price range, signaling a dip into the price discovery phase. Soon after, the price of ETH fell as far as the $4,100 price range, until it slowly retraced back to the $4,500, where it is currently. One analyst believes that the crypto market is being manipulated by market makers at the moment to create an exit pump.
He believes this to be true as he expects a major crypto correction to occur this month, which will have the price of BTC drop to below $100,000 and hit $90,000 to close a CME Gap at that price range. During this time, altcoin prices are also expected to fall, but not as hard as BTC is expected to. Meanwhile, the TOTAL3 price chart signals an incredibly massive bullish potential for altcoins for the coming days ahead.
Amidst the many bullish altcoins in the altcoin market at the moment, analysts are keeping a close eye on legacy altcoins above all. This is because altcoins like FET, ONDO, SUI, BNB, and SOL already set new ATH prices, but the legacy altcoin ETH just set its first ATH price, while other legacy altcoins like DOGE, XRP, ADA, VET, LTC, DOT, XLM, and many others are still making their way to their previous ATH prices.
Analysts Expect Momentum Shift for the Altcoin
In particular, according to CoinMarketCap analytics, the price of XRP is trading at the $3.04 price range. It is also boasting a total market cap of $181,636,042,274.4 and a 24-hour trading volume of $5,957,326,178.99. The altcoin is also just over a 20% pump away from its previous ATH set at $3.84 8 years ago. Analysts are eager to see the price of XRP hit a new ATH price soon, especially considering it missed the previous bull cycle due to its battle with the SEC.
According to the analyst in the post above, Ripple’s XRP just broke out of its downtrend pattern, and with the MA about to cross up, the analyst concludes that momentum could be shifting for the popular altcoin. He concludes by saying that XRP is definitely one asset to keep an eye on. Similarly, another reputed analyst sees all the bullish activity for the asset and expects it to be heading to its next bull target of $4.5 ATH.
