Analysts believe XRP’s bull run is approaching despite current market challenges, with promising chart patterns.
The bulls are back in the crypto market, with Bitcoin re-entering the long-sought $65K price range. However, XRP has yet to capitalize on this booming market. While Bitcoin and Solana have risen by 2% today, XRP has seen a mild decline of 0.33%.
Over the past week, altcoins such as Dogecoin and Shiba Inu have enjoyed over a 15% uptick, but XRP’s trajectory remains in the red, currently trading at $0.5873.
Haters Gonna Hate, But Charts Are Positive
However, some prominent analysts in the crypto community believe there’s no cause for concern, as XRP’s bull run may be just around the corner.
In a recent post on X, well-known XRP commentator Tony Edward remarked that while haters will continue to criticize XRP, the charts are showing positive signs.
His comments responded to an analysis by the widely followed chartist CrediBULL, who pointed out that XRP’s nearly seven-year compression is nearing an end. He described it as the “mother of all bull flags.”
CrediBULL added that there’s almost nothing else like it in the crypto market, partly because most other coins haven’t even been around for seven years. “When the old guard wakes up, it’s going to be legendary,” the analyst stated.
XRP is “Cooking Something”
Another analyst, “CRYPTO JUNIOR,” shared a similar perspective in a different thread. He noted that whether haters like it or not, XRP is “cooking something.”
This analyst presented a chart of XRP’s monthly time frames, indicating that XRP is currently at the bottom of a long-term downtrend, with an upside movement imminent. The current position mirrors past occurrences, particularly in 2017 and 2021 when XRP surged after prolonged downtrends.
XRP chart by CRYPTO JUNIOR
Chart formations like this have formed the foundation of the bullish sentiment around XRP among its proponents, although critics continue to dismiss these patterns.
In response to the updates, crypto researcher Van Winkle emphasized that despite the noise, the charts are showing promising signs for XRP. He urged enthusiasts to stay focused and ride the wave, stating that the bullish trends cannot be denied.
Another commenter suggested that XRP’s bull run could begin as early as eight weeks from now, according to long-term charts.
Technical Analysis “Failing XRP”
However, one user expressed skepticism, noting that analysts have been drawing charts for the past five years. He remarked that if XRP drops and we wait another year, the same patterns will simply be redrawn with the same predictions.
The commenter felt that technical analysis often fails for coins affected by “suppression and political influence.” He ultimately forecasted that XRP might only reach $1 by 2030.