According to Coin World’s report, TradingView analyst Heikin Ashi suggests that XRP may be in the midst of an explosive bull market, with the price potentially soaring 710 times to $305.
In a recent post about X, Ashi called for attention to the candlestick pattern of XRP on a monthly time frame, identifying a bullish signal. He emphasized that the current pattern is very similar to historical trends, indicating that the coming months could be beneficial for XRP holders.
It is noteworthy that this analysis comes as XRP continues to perform disappointingly, reaching a low not seen in over a year. Yesterday, XRP fell to $0.3911 but rebounded slightly, trading at $0.4286 at the time of writing. At this value, XRP’s monthly performance loss exceeds 18.22%.
Meanwhile, analysts like Ashi believe that XRP’s current trajectory is consistent with previous periods, which later saw dramatic price increases. He sees a similar situation occurring soon.
Historical Observations on a Monthly Time Frame
His analysis indicates that XRP first showed a long-term downward trend within the monthly time frame from 2014 to 2015. At that time, XRP had two leading zeros in mid-2014 trades, until it fell to around $0.003. By early 2015, XRP had soared tenfold, trading at about $0.025.
A similar situation occurred between 2016 and 2017, when XRP traded again with two leading zeros. After the initial bottom value, XRP underwent a brief price increase until the last quarter of 2017, when it performed a violent stunt.
Notably, the analyst’s chart points out that the XRP monthly pattern formed a symmetrical triangle between the bottom in 2014 and the subsequent peak before the new bottom in 2017. This formation laid the groundwork for aggressive fueling and pushed XRP to a historic high of $3.84 in January 2018. Specifically, XRP soared over 75,000% during this period.
After touching the ATH, XRP began to decline, falling to a bottom of $0.14 in early 2020. The bull market cycle of 2021 helped XRP briefly recover, reaching $1.96 in April of that year. Meanwhile, the subsequent bear market forced the asset to fall to around $0.3 at the end of 2020.
On a monthly time frame, XRP’s candles formed another symmetrical triangle between the two bottom prices in 2020 and 2023 and the brief fluctuation in 2021. Analyst Ashi believes that now, in the significant echo of these historical patterns, preparations have been made for another dramatic price increase.
On the monthly TF of #xrpustt, look how clear all the points and retracements of these fractals are… History rhymes!!!! In the coming months #0DOUBT #XRPCommunity
