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In a technical analysis shared on X, popular cryptocurrency analyst Ali Martinez (@ali_charts) highlighted a potentially significant bullish signal for XRP. Martinez highlighted that the SuperTrend indicator applied to the 12-hour XRP/USDT chart has changed to a bullish orientation – a pattern that last preceded a meteoric 470% price rally.
“The last time the SuperTrend indicator was up on the 12-hour chart, XRP was up 470%… It just went up again” – Martinez he wrote via X and shared the chart below.
What does this mean for the price of XRP
The SuperTrend indicator is a popular trend-following technical analysis tool developed by Olivier Seban. It overlays price charts and helps traders identify the dominant market trend by dynamically adjusting based on volatility. The indicator primarily uses the average true range (ATR) to determine its position in relation to price movements, providing clear buy and sell signals.
SuperTrend is calculated using ATR and a multiplier (usually set to 3). It draws a line above or below the price, changing its position when the price breaks above these levels. A bullish reversal occurs when the indicator moves below the price, signaling a potential uptrend. Conversely, a bearish reversal occurs when the price breaks above, indicating a possible downtrend.
Martinez cited a recent instance where the SuperTrend indicator turned bullish on the 12-hour XRP chart, which then led to a staggering 470% price surge. The most recent bullish turn occurred last November, when XRP was trading at around $0.50. Following the flip, XRP entered a mighty uptrend, breaking through key resistance levels and reaching a high of $2.90 on December 3, representing a 470% gain over its pre-flip valuation.
According to Martinez, the SuperTrend indicator on the 12-hour chart has turned bullish again. This resurgence suggests a potential repeat of the previous keen upward move. It is worth noting that the bullish SuperTrend coincides with the bullish configuration of the weekly chart.
Last week, XRP rebounded from key support at $1.96 and is currently looking for a weekly close above the 1.272 Fibonacci extension level at $2.42. A decisive break above this resistance combined with sustained volume could push the price towards the 1.618 Fibonacci extension level at $3.00.
Based on historical precedent, if XRP mirrors the previous pattern, the price target could be significantly higher. An augment of 470% would mean a price target of around $13.80.
At the time of publication, the price of XRP was $2.44.

Featured image created with DALL.E, chart from TradingView.com