The dynamic structure of the cryptocurrency world directs investors and analysts to constantly follow the changes in the market closely. In this context, a prominent crypto analyst recently made striking predictions that an important period is approaching in the cryptocurrency market with his analysis through the popular YouTube channel CryptoTV.
According to the analyst, Ripple (XRP) may lead the expected big rise in the cryptocurrency market. The upward break, which started on December 4 and accelerated throughout the weekend, attracted the attention of many investors. According to the analyst, especially the fluctuations experienced on the night of December 3 led to the emergence of buying opportunities and marked a point where the market started to gain momentum.
In his post, the analyst said, “It is almost happening, as you can see, we are experiencing a breakout in these cryptocurrencies,” and states that each cryptocurrency experiences separate outflows and that these outflows usually indicate the next big move in the market. He invites investors to be prepared for this period at an early stage.
The Coming XRP Boom
Ripple (XRP) is the altcoin that analysts are most excited about.
The analyst identified a bull flag formation on the XRP chart, which is a reliable precursor to significant fluctuations. It showed that XRP formed this pattern five times last year. This made investors hopeful about Ripple’s potential rise in the future.
Additionally, the analyst also showed that XRP broke through major resistance at the descending line of the bull flag pattern. However, this breakout occurred on Friday and there was disappointment with the decline over the weekend. The analyst explained that this was due to the market being closed over the weekend and not allowing much movement. The market expert believes that despite some major fluctuations in the last 24 hours, XRP is still bullish in the short and long term.
According to the analyst, depending on the bull flag formation, XRP could easily reach $0.7 and $0.8 soon. The analyst added that there will be some uncertainty, but the break will come.
Bitcoin Forecast
In addition, according to the analyst, Bitcoin (BTC), which has overcome an important technical obstacle known as a fractal that has increased for two consecutive days, seems ready for further rise. However, the analyst noted that Bitcoin’s high Relative Strength Index (RSI) suggests the possibility of a temporary pullback.
You can follow the current price movement here.