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In a technical evaluation shared on X, well-liked crypto analyst Ali Martinez (@ali_charts) has drawn consideration to a probably important bullish sign for XRP. Martinez highlighted that the SuperTrend indicator, utilized to the 12-hour chart of XRP/USDT, has flipped to a bullish orientation—a sample that preceded a meteoric 470% value surge the final time.
“The final time the SuperTrend indicator flipped bullish on the 12-hour chart, XRP went up 470%… It simply flipped bullish once more,” Martinez wrote through X and shared the under chart.
What This Means For XRP Value
The SuperTrend indicator is a well-liked trend-following technical evaluation software developed by Olivier Seban. It overlays on value charts and helps merchants determine the prevailing market pattern by adjusting dynamically primarily based on volatility. The indicator primarily makes use of the Common True Vary (ATR) to find out its place relative to cost actions, offering clear purchase and promote alerts.
Associated Studying
The SuperTrend is calculated utilizing the ATR and a multiplier (generally set to three). It plots a line above or under the worth, switching its place when value crosses these ranges. A bullish flip happens when the indicator strikes under the worth, signaling a possible uptrend. Conversely, a bearish flip occurs when it strikes above the worth, indicating a doable downtrend.
Martinez referenced the final occasion the place the SuperTrend indicator flipped to bullish on XRP’s 12-hour chart, subsequently resulting in a staggering 470% value enhance. The final bullish flip occurred in November final 12 months, the place XRP was buying and selling at roughly $0.50. Following the flip, XRP entered a sturdy uptrend, breaking by means of key resistance ranges and reaching a peak of $2.90 on December 3, representing a 470% acquire from its pre-flip valuation.
Associated Studying
As per Martinez, the SuperTrend indicator on the 12-hour chart has once more flipped to bullish. This resurgence suggests a possible repetition of the earlier explosive upward motion. Notably, the bullish SuperTrend aligns with a bullish chart setup within the weekly chart.
Final week, XRP bounced off the essential assist at $1.96, and is now eying a weekly shut above the 1.272 Fibonacci extension stage at $2.42. A decisive break above this resistance, coupled with sustained quantity, might propel the worth in the direction of the 1.618 Fibonacci extension stage at $3.00.
Primarily based on the historic precedent, if XRP mirrors the earlier sample, the worth goal may very well be a lot greater. A 470% enhance would goal a value stage of roughly $13.80.
At press time, XRP traded at $2.44.
Featured picture created with DALL.E, chart from TradingView.com
