Veteran trader Peter Brandt has stated that the XRP price is ready to rip, indicating that the crypto was set to witness a massive move to the upside.
Veteran trader Peter Schiff has stated that the XRP price is set for a parabolic rally, indicating that the crypto could soon enjoy another leg up just following its break above $1. The trader also explained what needs to happen before XRP can enjoy this parabolic rally.
According to Schiff, XRP is displaying a massive coil pattern on the technical analysis charts, suggesting that the crypto is gearing up for an explosive move to the upside. This bullish outlook aligns with several positive developments surrounding XRP.
One key factor driving XRP’s bullish momentum is the potential conclusion of the SEC lawsuit. Rumors have surfaced that SEC Chair Gary Gensler may be considering resigning, which could pave the way for a resolution in the XRP case. Notably, XRP experienced a recent rally above $1 following Gensler's hints at resignation.
From a technical analysis perspective, XRP has already cleared the 2023 high, which occurred when Judge Aanalisa Torres ruled that XRP was not a security in itself.
The above is the detailed content of XRP Price Ready For Parabolic Rally. For more information, please follow other related articles on the PHP Chinese website!
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