Cryptocurrency analyst shared XRP price technical analysis within 4 hours. Currently, the XRP chart shows clear patterns in market behavior, suggesting that historical price action may be repeating itself. The analyst predicts that if the cryptocurrency is able to successfully replicate these bullish historical patterns, it could trigger a surge in the XRP price.

XRP price patterns signal upside potential

Richard, a cryptocurrency analyst at TradingView, popularly known as “The Signalyst,” did just that decided this story repeats itself on the XRP price chart. The analyst shared a detailed analytical report on XRP, predict your future goal while also examining critical aspects of current pricing actions.

According to Richard, the 4-hour chart of XRP shows an intriguing pattern characterized by lower lows and a piercing bullish impulse. The two red arrows marked “LL” on the price chart indicate the areas where XRP price hit lower lows mid-November, signaling a correction or reversal of the trend. This downward trend was quickly followed by a period of consolidation within the specific range perceptible in the green zone on the chart.

After experiencing lower lows and bear rushRichard indicated that the XRP price has entered a correction phase, stabilizing within the mentioned green zone. Ultimately, XRP broke above this green resistance range, sparking a bullish momentum that pushed the cryptocurrency to its previous high of $1.50.

Although the price of XRP has corrected again and was trading around $1.40 earlier this week, Richard emphasized that the cryptocurrency appears to be repeating the above historical setup. Its price has entered a fresh phase of consolidation just below the $1.53 level, signaling the beginning of another bull move.

If XRP price repeats this pattern and breaks above the $1.53 mark, the analyst suggests that it would confirm XRP’s projected bullish position and pave the way for a potential rally towards the psychological $2 level.

Analyst rates XRP at a bargain price of $1.4

Steph, a cryptocurrency analyst at X (formerly Twitter), has called the price of XRP is a bargain at $1.4. After rising above $1.50 earlier this month, the price of XRP reversed slightly, pushing it down to $1.40.

Steph revealed that the XRP price of $1.4 presented an excellent buying opportunity for investors because: breakout up was about to begin. As for the predicted breakout, it seems the analyst was right on target because The price of XRP is currently $1.6which means an augment of 8.7% in the last 24 hours.

One sec XRP continues to gain momentumSteph predicts that the cryptocurrency could soon see a surge to $50. With this bullish scenario in mind, Richard urged investors to start buying XRP before further adoption pushes its price into a “very expensive range” between $22 and $120.

Featured image created with Dall.E, chart from Tradingview.com