Experts Say XRP Current Setup is Far More Bullish Than a Drop to $0.50

Notable market analysts continue to emphasize that XRP remains in a strong uptrend, countering views that suggest a potential breakdown to $0.5.

In a post on X, analyst Dom discussed XRP from a higher time frame perspective, sharing a historical chart highlighting its peak rallies in the last two market cycles. According to Dom, the chart formation indicates that the asset “wants higher.”

XRP Current Setup Is “Far More Bullish”

Dom noted that XRP’s current structure is different from its past peaks. He pointed out that in the 2017/2018 cycle, XRP had ten daily closes above $2 before reaching its all-time high, while in the 2020/2021 cycle, there were no closes above $2 before the peak.

In contrast, Dom believes the current pattern suggests a higher value for XRP, as it has already seen 13 daily closes above $2. With XRP’s ongoing consolidation in the $2 range, Dom urged holders to remain patient, suggesting there’s still more room for upside potential.

Commenting on the analysis, technical analyst “Chating Guy” pointed out that some market observers have drawn bearish conclusions from XRP’s historical patterns. However, he argued that anyone with a basic understanding of technical analysis would recognize that XRP’s current pattern is “far more bullish” than the possibility of a drop to $0.50, as some critics have suggested.

The Foundation Behind Calls for a $0.50 XRP Crash

Critics who predict a bearish outcome for XRP often focus on the trend of lower lows following the asset’s previous peaks in 2018 and 2021.

For instance, after XRP hit $3.84 in January 2018, it fell to $1 within two weeks. By February of that year, it was trading below $1. Similarly, after reaching $1.96 in April 2021, XRP traded around $0.80 just four weeks later.

Based on this historical trend, critics have warned market participants to take profits and exit the XRP market, with some projecting a crash to $0.50. However, this scenario has yet to materialize. Even though XRP lost some momentum after reaching $2.865 two weeks ago, it has remained in the $2 range.

XRP Bull Run Gaining Momentum

At press time, XRP is experiencing a renewed surge, gaining over 14% today and trading at $2.71. Analysts believe that once the bull run picks up, XRP could rise to $4.50 before losing momentum again.