Candle

when

Notable

Chainlink

<p><a href="https://twitter.com/jaydee_757/status/1763240891505070246?t=_y9mM7kKBVxGjIT4jwJZrg&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Notable crypto trader JD (@jaydee_757) </a>recently highlighted an extremely bullish pattern developing in the XRP chart. He points out that the last two times XRP price action met certain monthly criteria, massive rallies ensued.</p>
<p>Specifically, JD notes that when two key things happen:</p>
<ol>
 <li><a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> bounces off a critical multi-year trendline</li>
 <li>XRP forms a monthly “Engulfing Candle” close</li>
</ol>
<p>…explosive upside has followed.</p>
<h2 class="wp-block-heading" id="past-precedents-point-to-potential-parabolic-moves">Past Precedents Point to Potential Parabolic Moves</h2>
<p>Looking back, JD shows the first occurrence was in January 2014. After closing the month with an Engulfing Candle following a trendline bounce, XRP staged a vertical rally lasting 5 straight months.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="542" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-7-1024x542.png" alt="" class="wp-image-445981" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-7-1024x542.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-7-300x159.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-7-767x406.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-7-1536x813.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-7-2048x1083.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-7-284x150.png 284w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-7-100x53.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-7-662x350.png 662w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-7-788x416.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-7.png 2032w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>The next instance was in December 2017. Under similar conditions, a 2-month parabolic advance culminated in a 6-month consolidation phase building a launchpad for the climactic bull run into late 2017.</p>
<h2 class="wp-block-heading" id="current-technical-alignment-looks-to-repeat-the-past">Current Technical Alignment Looks to Repeat the Past</h2>
<p>Fast forward to present day, March 2024. JD cautions that XRP monthly price action has once again exhibited those exact conditions:</p>
<ol>
 <li>A bounce off the pivotal multi-year trendline</li>
 <li>A monthly Engulfing Candle close</li>
</ol>
<p>Moreover, XRP appears poised to break out from a bullish triangle consolidation pattern.</p>
<p>With the technical alignment mirroring past instances that brought fireworks, XRP bulls have reason to believe history may soon rhyme again with another massive rally. The stage could be set for substantial profits if XRP maintains its trendline bounce and confirms the triangle breakout.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/ripples-xrp-token-on-the-verge-top-expert-predicts-bullish-momentum-pay-attention-to-these-metrics/" target="_blank" rel="noopener noreferrer nofollow">Ripple’s XRP Token on the Verge: Top Expert Predicts Bullish Momentum – Pay Attention to These Metrics</a></li>
 <li><a href="https://captainaltcoin.com/bitcoins-btc-rally-ushers-in-the-altcoin-era-ethereum-eth-solana-sol-and-more-set-to-soar-experts-highlight-these-key-metrics/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s (BTC) Rally Ushers in the Altcoin Era: Ethereum (ETH), Solana (SOL), and More Set to Soar – Experts Highlight These Key Metrics</a></li>
 <li><a href="https://captainaltcoin.com/market-skepticism-within-chainlink-link-sees-more-litecoin-ltc-holders-rushing-into-pushd-pushd-presale/" target="_blank" rel="noopener noreferrer nofollow">Market skepticism within Chainlink (LINK) sees more Litecoin (LTC) holders rushing into Pushd (PUSHD) presale</a></li>
</ul>
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<p>The post <a href="https://captainaltcoin.com/ripple-bulls-gear-up-for-massive-profit-as-price-action-that-triggered-major-xrp-rallies-shows-up-again/" rel="noopener noreferrer nofollow">Ripple Bulls Gear Up for Massive Profit as Price Action that Triggered Major XRP Rallies Shows Up Again</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ripple Bulls Gear Up for Massive Profit as Price Action that Triggered Major XRP Rallies Shows Up Again

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