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- Crypto analyst Cryptoinsightuk predicted XRP may experience a surge in “T-9 days.”
- The monthly time frame highlights that a parabolic curve could be forming in both the price action and RSI for XRP/ETH.
- At the reported time, XRP has already crossed the $0.67 resistance level as it continues to hug the upper band of the Bollinger Bands.
Hinting at a possible bull run, a crypto analyst under the pseudonym ‘Cryptoinsightuk’, informed the crypto community on X that XRP may experience a surge in “T-9 days.” The analyst pointed out that XRP is creating a series of higher lows and higher highs in a weekly time frame.
Additionally, the crypto analyst mentioned that the RSI has made a bullish cross and gone above the 50 level. With these analyses, Cryptoinsightuk claimed, “This suggests to me, $XRP will outperform $ETH in the coming weeks.”
The monthly time frame highlights that a parabolic curve could be forming in both the price action and RSI for XRP/ETH. This could be considered a positive sign, as the traders may be expecting the altcoin to climb up soon over the coming months.
$XRP Blast off in T-9 days.We are starting to see $XRP wake up, which is lovely.Today we are looking at the $XRP vs $ETH chart;On the weekly timeframe, we can see $XRP is creating a series of higher lows and higher highs. Additionally, the RSI has crossed bullish, above… pic.twitter.com/BJxBEnAsxH— Cryptoinsightuk (@Cryptoinsightuk) November 5, 2023
Based on the analysis, it seems that in the long run, XRP could be experiencing a surge in the future. However, the 1-day chart of XRP/USDT already points out that the altcoin is experiencing an overbought surge as the RSI reaches the overbought region.
XRP/USDT 1-Day Chart (Source: TradingView)
The RSI, currently valued at 84.69, reached the overbought region when it made a bullish crossover and broke above the 70-level barrier. Looking at the trajectory of RSI, it is expected that XRP could continue to climb up. Ideally, traders may expect a fall or retracement when the RSI reaches the overbought region.
However, should the crypto analyst’s hypothesis be validated, XRP could surge continuously upwards while the RSI continues to remain in the overbought region. At the reported time, XRP has already crossed the $0.67 resistance level as it continues to hug the upper band of the Bollinger Bands.
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