Crypto analyst CryptoInsightUK has shared its bullish sentiment on the stock market XRP price. He noted that there may be something going on for the token and its ecosystem. Interestingly, he agrees that XRP could rise to $9.6.
XRP price could replicate 2017 momentum
In a after Shared on its X (formerly Twitter) platform, CryptoInsightUK shared a monthly XRP/BTC chart. He noticed that XRP’s Biggest Boost Against BTC was approximately 5,200%, which occurred in 2017. Analyzing the graph he shared, he suggested that a similar setup to that at the time was building.
This time, XRP could post higher gains against BTC as CryptoInsightUK stated that the XRP has a higher bottom. He also said that the technical structure is more bullish after longer consolidation. In addition to these indicators, he highlighted the Relative Strength Index (RSI), which is rising.
With all this in mind, the crypto analyst believes that “something is coming” for the XRP token. CryptoInsightUK seemed very careful not to make any predictions about how much the XRP token could rise or what price action to expect when it does.
Another prominent crypto analyst, Egra Crypto, provided insight into what price action CryptoInsightUk may have in mind. In response to the main post, Eggag replied and stated that XRP could strike in between $9.6 and $10 This time. CryptoInsightUK responded and declared that Egrag’s prediction is “perfect for the range.”
Token price resumes uptrend toward $0.61 | Source: XRPUSD on Tradingview.com
XRP’s success depends on Bitcoin’s?
CryptoInsightUK shared some more thoughts when another X user asks if the community might see some XRP price action this year. He suggested that XRP rally used to be depending on the movement of Bitcoin because XRP goes higher when Bitcoin does. As such, he is currently encouraging Bitcoin so that some price action from XRP can take place as well.
As for when to expect this rally of XRP, he is not sure as he stated that it is difficult to find the starting point. That’s why the analyst just feels comfortable holding and waiting with his XRP bags. Despite the uncertainty, the crypto analyst seems to be one of those who is very cautious bullish on the XRP token.
Another prominent figure in the XRP community, Rob Art, also shared similar sentiments with CryptoInisghtUK. He suggested that XRP cannot reach a new all-time high (ATH) without Bitcoin doing so in the same cycle. As such, he believes that XRP can only fly if Bitcoin does too.
At the time of writing, XRP is trading around $0.60, down almost 1% in the past 24 hours. facts from CoinMarketCap.
Featured image from Coinpedia, chart from Tradingview.com
