JD, one of the experienced analysts of the cryptocurrency world, XRP He drew attention to the upcoming monthly close for the company and emphasized three conditions that could trigger a parabolic movement if completed.
According to JD, the first prerequisite for this expected volatility is a bullish trend on the Stochastic Relative Strength Index (SRSI).
For context, SRSI is a technical indicator that helps detect situations where a crypto asset reaches new highs or lows, while the RSI moves in the opposite direction. This indicator is used as a valuable tool to identify potential signals indicating a market trend reversal.
Specifically, a bullish crossover occurs when the slower SRSI line crosses above the faster SRSI line, typically inferring that the price of a crypto asset is gaining momentum. As a result, JD highlights this as a leading signal for the predicted XRP bull run.
Secondly, the analyst noted that both the fast and slow SRSI lines should break above the 80 level. This point aims to highlight overbought and oversold conditions in the XRP market.
As we reported as Koinfinans.com, JD’s third important condition includes Ripple breaking an 8-year trend line. A trend line is a graphical representation connecting two or more price points on a chart. For example, an 8-year trend line connects the altcoin’s closing prices spanning the last eight years.
According to the analyst, a break in XRP’s price above this trend line is considered a significant bullish signal. Additionally, his tweet also includes a chart showing when the 8-year trend line will be broken.
According to the information in the chart, a 4-year trend line was broken in 2017 and XRP increased by 60,000% in 2018, reaching an all-time high. Based on this, the analyst’s chart suggested that the 8-year trend line could be broken by 2025.