{"id":4507,"date":"2024-12-19T23:31:32","date_gmt":"2024-12-19T23:31:32","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=4507"},"modified":"2024-12-19T23:31:32","modified_gmt":"2024-12-19T23:31:32","slug":"cmt-certified-analyst-says-the-xrp-price-rally-still-has-a-long-way-to-go","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=4507","title":{"rendered":"CMT-Certified Analyst Says The XRP Price Rally Still Has A Long Way To Go"},"content":{"rendered":"
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A certified Chartered Market Technician (CMT) analyst recently shared a chart discussing the XRP price potential<\/a> for a bullish surge. Basing his projections on key technical indicators<\/a>, the analyst believes that the XRP price rally still has a long way to go before it reaches overbought levels.<\/p>\n

Technical Indicators Signal XRP Price Bullish Reversal<\/h2>\n

CMT-certified crypto analyst Tony Severino took to X (formerly Twitter) on December 18 to highlight<\/a> the potential for an XRP price bullish reversal to the upside<\/a>. The analyst points to the combination of historical technical signals and tightening Bollinger Bands (BB) as an indication of a looming price rally.\u00a0<\/p>\n

The analyst has expressed confidence in the XRP price outlook, admitting that he had underestimated its bullish potential<\/a>. He revealed that the XRP\/BTC quarterly chart looks exceptionally strong, with its three-month candlestick closing above the Bollinger Bands<\/a> basis at 0.00001717, for the first time since April 2019.\u00a0<\/p>\n

\"XRP<\/p>\n

Severino revealed that the XRP price had touched the upper Bollinger Band at $0.0000286, a critical level typically associated with significant bullish momentum. According to the analyst, a quarterly close above this upper band could serve as a buy signal for XRP<\/a>, emphasizing that the Bollinger Bands are currently at their tightest levels in the XRP\/BTC history.\u00a0<\/p>\n

In addition to this development, XRP\u2019s Relative Strength Index (RSI)<\/a> on the three-month chart is 47.87, steadily moving towards 50 after breaking above its RSI-based moving average at 43.44. Severino noted that an RSI above 50 often indicates increasing strength in a cryptocurrency, and historically, some of the largest price movements have occurred at an RSI above this level.\u00a0<\/p>\n

The analyst further revealed that XRP\u2019s Fisher Transform<\/a> is flipping bullish. This technical indicator is used to identify turning prices and trend reversals in cryptocurrencies. According to Severino, XRP\u2019s Fisher Transform turned positive after showing a multi-year bullish divergence<\/a>, which further strengthens its potential for a price rally and optimistic outlook.\u00a0<\/p>\n

Momentum Oscillators Indicate Extended Upside<\/h2>\n

In addition to its technical indicators, Severino has revealed that momentum oscillators such as the Logarithmic Moving Average Convergence Divergence (LMACD<\/a>) and Stochastic Oscillator point to a potential price rally for XRP. Currently, the bearish momentum for XRP\u2019s LMACD is weakening and steadily approaching a bullish crossover for the first time on the XRP\/BTC chart. This pivotal shift suggests a potential trend reversal<\/a>, signaling an extended upside for the XRP price.<\/p>\n

Meanwhile, the Stochastic Oscillator<\/a> at the %K line has hit its highest reading of 71, indicating a potential for a strong continuous upward momentum<\/a>. The technical indicator also highlights that XRP still has a long way to go before it enters overbought territory. As of writing, the XRP price is trading at $2.36, marking a 6% decrease from its earlier price of $2.5 in the past 24 hours, according to CoinMarketCap.\u00a0<\/p>\n

\"XRP<\/div>\n","protected":false},"excerpt":{"rendered":"

A certified Chartered Market Technician (CMT) analyst recently shared a chart discussing the XRP price potential for a bullish surge. Basing his projections on key technical indicators, the analyst believes that the XRP price rally still has a long way to go before it reaches overbought levels. Technical Indicators Signal XRP Price Bullish Reversal CMT-certified […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-4507","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/4507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4507"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/4507\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}