The XRP price has been treading water in recent days. After XRP rose<\/a> by more than 52% in just 18 days from mid-October to early November, the price is currently in a clear consolidation phase in the shorter time frames. However, a look at the 1-month chart of the XRP\/USD trading pair shows that the XRP price has exhibited strong bullish months.<\/p>\n In this sense, Crypto analyst Egrag has drawn<\/a> attention to an extremely rare phenomenon in the XRP monthly price chart. The pattern in question is a series of three consecutive monthly green candles, which have only been documented twice in the history of the cryptocurrency<\/a>.<\/p>\n As the market approaches the monthly close today, a confirmation by a close above $0.5987 could mean the third monthly green candle for XRP. \u201cGet ready\u2014within the next [few] hours, we\u2019re poised to seal another trio of consecutive green candles,\u201d Egrag noted.<\/p>\n Delving into the specifics, Egrag elucidates two distinct historical precedents post such formations<\/a>. In the first scenario, a 5-month consolidation phase was observed after XRP recorded three consecutive green candles from March to May 2017.<\/p>\n However, the consolidation phase had an extremely bullish effect. After it ended, the XRP price experienced a staggering 1,500% surge within just two months. Egrag suggests that if XRP\u2019s price action were to emulate this historical pattern, investors can anticipate a potential surge to $10, starting from the 1st of April 2024.<\/p>\n The second instance Egrag refers to the period from December 2015 to February 2016. During this time, the price rose by approximately 102% in three consecutive green months. What followed was a lengthier 12-month consolidation phase. But the wait was worth it again.<\/p>\n In March 2018, the XRP price started an extraordinary 8,000% rally. A replication of this scenario would imply a potential skyrocketing of XRP\u2019s price to $50, beginning on the 1st of November 2024.<\/p>\n Notably, Egrag offers an average price target standing at $30. He stated, \u201cXRP army stay steady, the average of these two targets lands at $30, you know that I always whisper to you my secret target of $27<\/a>. Hallelujah, the anticipation is palpable!\u201d<\/p>\n At press time, XRP was trading at $0.60333. A week ago, the price managed to break out of a downtrend<\/a> channel. However, the bullish momentum quickly fizzled out after the price was rejected at the 0.382 Fibonacci retracement level at $0.627.<\/p>\n Related Reading: Bitcoin Decouples with XRP, BNB But Correlates With Dogecoin and Cardano<\/a><\/p>\n For four days now, the XRP price has been squeezed into a tight range between the 20-day and 50-day EMA (Exponential Moving Average), with a breakout to the downside or upside getting closer and closer. In the event of an upside breakout, the price level at $0.627 would be decisive. Then, the price could tackle the 0.5 Fibonacci retracement level at $0.688.<\/p>\n However, if a breakout to the downside happens, a 100-day EMA at $0.575 would be the first support. This must hold to prevent the price from falling towards the 0.236 Fibonacci retracement level at $0.552, which is also close to the 200-day EMA. The convergence of both indicators signifies a price level that the bulls must defend at all costs.<\/p>\n Featured image from iStock, chart from TradingView.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" The XRP price has been treading water in recent days. After XRP rose by more than 52% in just 18 days from mid-October to early November, the price is currently in a clear consolidation phase in the shorter time frames. However, a look at the 1-month chart of the XRP\/USD trading pair shows that the […]<\/p>\n","protected":false},"author":2,"featured_media":203676,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-203675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/203675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=203675"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/203675\/revisions"}],"predecessor-version":[{"id":203678,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/203675\/revisions\/203678"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/203676"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=203675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=203675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=203675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Here\u2019s What This Could Mean For XRP Price<\/h2>\n
Price Analysis: 1-Day Chart<\/h2>\n
![\"XRP](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/XRPUSD_2023-11-30_12-34-27.png?resize=3628%2C1673\")