XRP, the local crypto token of the Ripple protocol, was one of the worst performing altcoins of last year due to a strong bearish trend that the asset could not be broken.
However, this 680-day bear trend was broken, suggesting that a surge effect might trigger an epic recovery rally in XRP in the coming days.
XRP Leaving the 680-Day Month Trend with 200-Day EMA Claims
A few altcoins suffered as badly as XRP. After a 90% drop from the all-time highs, the cryptocurrency remained in a long and difficult downtrend.
In the light of every hope and recovery, altcoin's price is downward for investors and Ripple executives are launched to finance operations.
Related Resources | Large XRP Rally Triggers Basic Indicator To Burn For The First Time In A Year
The crypto coin dropped to 17 cents per token from prices above $ 3.50, the lowest level in December 2019.
However, from this low level, XRP has already increased by 93% in total. From the New Year to today, Ripple is already over 80%. In February alone, XRP increased over 40%.
But with such explosive earnings ready for traders to book, can the rally go further?
Ripple Breakout Prices Can Rise to All-Time Highs
Breaking a 680-day bear trend could help fuel get XRP prices higher.
The breaking of the downward trend is accompanied by a violation of the 200-day exponential moving average.
The number three cryptocurrency by market value is above the cloud or "Kumo" in the Ichimoku indicator, which is also an indicator designed to take a glance at the health of an asset.
$ XRP 680-day bear trend is over
– Over 200 days of EMA
– above the bear PF
– Above the cloud pic.twitter.com/c47ndnvccp
– Josh Olszewicz (@CarpeNoctom) February 14, 2020
As for how far XRP can fly, everyone guesses. However, historical data shows that XRP could rise as much as 6,000% in the coming months and could reach prices up to $ 14 per coin if a similar move occurs.
After the last major downtrend boom, Ripple climbed above $ 3.50 from just a few bucks at the crypto bubble summit in early 2018. The strong move shocked investors and talked about the world cryptocurrency.
Related Resources | Ready to Take Off: Two-Year Downtrend Explosion May Cause $ 14 XRP
Since then, XRP has been one of the worst performing crypto assets for two years. However, these troubles could soon reverse and Ripple would have recovered most of the lost value on the road in a very short time if the asset behaved as it was in the past.
With too much pressure build up below the resistance, another break in XRP can cause the asset to bounce. And at this point, the extreme FOMO will step in and take prices even further – potentially the all-time high of $ 14 in the coming months.
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