The post XRP Price Patterns And 2024 Election Spark Talk Of A New Rally appeared on BitcoinEthereumNews.com.

Este artículo también está disponible en español. Analysts are once again paying close attention to the price trend of XRP and the US election cycles. Many people who follow the market say that if a crypto-friendly candidate wins, XRP could go through a big jump, similar to what happened after other elections. Could this be the start of another rally? Related Reading After the 2016 and 2020 US elections, XRP’s value skyrocketed, as expected by market observers. These two major occurrences benefited cryptocurrencies, which analysts expect to happen again in 2024 under Donald Trump. Market expert Mikkybull observes a “symmetrical triangle” pattern that preceded these elections and led to significant achievements. Since XRP has achieved these highs before, some wonder if history will repeat. $XRP huge acceleration is coming Look at the past elections and see what follows. pic.twitter.com/ufcqC8v5Y5 — Mikybull 🐂Crypto (@MikybullCrypto) November 8, 2024 Patterns Of XRP In The Past: From Triangle To Surge Mikkybull observes that the price of XRP fell marginally after the 2016 elections but eventually increased by 60,000%, reaching the all-time high (ATH) level of $3.31. The 2020 election caused another upward spike which resulted in the altcoin increasing by 170% within the span of one month. XRP market cap currently at $38 billion. Chart: TradingView There was also a liquidity crunch in December for the cryptocurrency market however this was occasioned by the contrary ruling from the SEC against Ripple Labs. In light of the ongoing litigation, the election rally evokes interest because it proposes that such increases could be achieved in 2024. Given the current bullish sentiment in the market, Mikkybull believes that another rally is almost imminent. Positive Technical Indicators At present, XRP is trading at approximately $0.6393 and is encountering a resistance level at $0.6533. The prospective path to the…

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Filed under: News - @ November 13, 2024 2:25 am