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Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

XRP Price Set To Explode: Analyst Identifies Trigger For Next Parabolic Move

Scott Matherson
Scott Matherson
1 year ago
4 mins read
XRP Price

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Crypto analyst JD has once again commented on XRP making a “parabolic” move. This time around, he has identified exactly what needs to happen for the crypto token to enjoy a significant rally. 

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All Eyes On The MACD

In a post shared on his X (formerly Twitter) platform, JD highlighted the MACD (Moving Average Convergence Divergence) as the trigger for the crypto to enjoy a significant rally. He noted how XRP went “parabolic” the last time the MACD crossed the 0 level. According to him, that hasn’t happened this time, but the market seems very close to that level. 

JD shared an accompanying chart to elucidate his point. From the chart, one could see that XRP enjoyed a 650x gain the last time the MACD crossed 0. This significant breakout, which came in 2017, happened after a 4-year trendline that dated back to 2014. 

This time, the coin has consolidated for a longer period as he highlighted an 8-year trendline that dates back to 2017. He expects the market to instantly become bullish if there can be a breakout from that trendline. For now, JD believes that a bullish cross is still in play despite the fact that the MACD is below 0. 

In response to his post, another X user stated that “it’s game over” once XRP crosses the $0.92 price level. JD seemed to agree as he stated that it was going to happen. Meanwhile, the crypto analyst has remained cautious about giving a prediction as to what price level XRP could hit. However, from the chart he shared, XRP could rise to as high as $15, taking a cue from 2017.

We break that 0.92 level and it’s game over.

— Nick | Crypto Crusader (@NCashOfficial) December 2, 2023

XRP currently trading at $0.61393 territory on the daily chart: TradingView.com

Between XRP And Bitcoin

Crypto analyst Egrag Crypto has also given his view on the future trajectory of XRP in relation to Bitcoin. He spoke about a “Helheim Gate Way” scenario and how Bitcoin’s price could affect XRP’s. He said BTC surging to the 48k-50k range might exert pressure on XRP, causing it to decline against the flagship cryptocurrency. 

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In this scenario, XRP’s decline is a result of Bitcoin apparently absorbing substantial liquidity, driving the latter’s dominance higher. However, things could turn out differently if XRP decides to “decouple and carve its unique path.”

Although this projection doesn’t seem favorable for XRP, Egrag noted that it could still be “remarkably bullish.” The reason is that liquidity could flow back “aggressively and abruptly” to altcoins like XRP once Bitcoin releases all the absorbed funds. Crypto analyst CrediBULL Crypto has once mentioned something in this regard. 

He stated that XRP’s price could decline in the short term as Bitcoin continues to enjoy a parabolic rise. He, however, mentioned that XRP will be one of the biggest benefactors once there is an “influx of new money.”

Featured image from iStock

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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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