Crypto analyst @BullrunnersHQ on social media X released novel market update suggesting that XRP may be on the threshold of a gigantic rally while established markets are at record highs. Its latest technical failure joins its recent strength in Nasdaq on potential moves in the cryptocurrency sector, warning that it will soon become “unthinkable” for XRP. The analyst emphasized that XRP’s price structure and broader crypto signals are converging towards a decisive move that could determine whether the current bull market cycle continues or begins to reverse.
XRP set for unimaginable upward growth
According to @BullrunnersHQ, stock market is approaching critical levels that may dictate the next essential trend in the cryptocurrency market and the XRP price. Even though the cryptocurrency market is struggling to reach similar highs, XRP remains well above the $2.50 range. He described the setup as an “unthinkable” moment for XRP in which the asset could finally break out of prolonged consolidation and surge by “several hundred percent.”
It’s worth noting that @BullrunnersHQ confirms this XRP price structure remains technically sound despite market volatility. The analyst also noted that overall cryptocurrency market capitalization and sentiment indicators have improved, including: Fear and Greed Index climbed to 42 from mid-October lows. He further highlighted that Bitcoin continues to hold above its 50-week EMA, showing a pattern consistent with previous gains that led to novel highs.
The analyst added that BTC’s novel local high around $116,000 and the bullish transition between the 10 EMA and 20 EMA suggest that momentum is returning to risk assets, setting the stage for XRP is outperforming potentially. It is worth noting that this period reflects previous market cycles, where Bitcoin Consolidates Above Key Levels triggered explosive growth in altcoins.
XRP, which has maintained support much longer than most cryptocurrencies in the market, could climb to a novel all-time high when dynamics change.
To support his analysis, @BullrunnersHQ referenced cryptocurrency expert and chartist Peter Brandt’s discussion on whether the recent NASDAQ price action represents a breakout or exhaustion. While Brandt is cautiously bearish from an equity perspective, @BullerunnersHQ believes that even if stocks pull back slightly or stop temporarily, money can still turn into cryptocurrenciespotentially fueling XRP’s next gigantic rally.
Analyst warns of exhaustion gap and end of bull market
In his analysis, @BullrunnersHQ also referred to cryptocurrency trader Abdullah who believes that NASDAQ rally it is also showing signs of an exhaustion gap, which is a signal often seen at the end of an uptrend in a bull market. Absullah points to overbought readings in both cases Relative Strength Index (RSI) and the stochastic RSI on a weekly basis, indicating that markets may be nearing the end of the current bull market.
@BullrunnersHQ agreed that the market may be close to exhaustion however, he reiterated that the XRP position offers greater growth potential compared to other assets. He also emphasized that Bitcoin must continue to hold between $107,000 and $109,000 on a weekly time horizon. Failure to do so may signal the end of a broader bull market.
Featured image created with Dall.E, chart from Tradingview.com
