Based On Historical Data, Technical Analyst States Timeline for Next XRP Bull Run

Based on comprehensive historical data and chart evaluation, an expert technical analyst believes a promising XRP bull run could begin in either August or June of 2024. On Wednesday, renowned chartist Egrag provided insightful interpretations as to the possibility of XRP repeating its bullish past due to the occurrence of a specific chart pattern featuring on the digital asset’s monthly Moving Average Convergence Divergence (MACD). To clarify, MACD is a widely used technical indicator used to reveal trend trends as well as market momentum.

Egrag’s analysis culminates in the observation that the approaching bullish cross should form around June of 2024, but there could be a possibility of it happening sometime before in August under certain market conditions. He advises traders to carefully monitor the market for any unexpected variance. However, predictions pivoted off the position of the MACD alone can be insufficient to predict price interactions accurately.

In terms of the digital token’s current state, excitement was sparked after the recent decision of XRP not to be constituted as a security by SEC. As of writing XRP is currently trading at $0.811 following an impressing proportionate 24-hour jump of almost 73%.

Robert Wilson author
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