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<ul>
 <li>A potential bullish signal for XRP could emerge if Bitcoin surpasses a key moving average, reminiscent of its 2021 performance.</li>
 <li>The analyst’s identification of a bullish divergence on the four-hour XRP chart prompted a cautious entry into a small long position.</li>
 <li>Bitcoin’s price movement above $1.97 is seen as pivotal for XRP, potentially signaling a path toward a new all-time high.</li>
</ul>
According to a crypto analysis, if Bitcoin breaks above a crucial moving average, mirroring its 2021 performance, it might indicate the right time to aggressively accumulate XRP.&nbsp;
In a recent <a href="https://www.youtube.com/watch?v=w5fiMMQvB6w&amp;ab_channel=CoinsKid" rel="noopener noreferrer nofollow">video</a>, the crypto expert identifies a bullish divergence on the four-hour chart, prompting him to enter a small long position on XRP. While this setup does not guarantee a market bottom, it offers traders an opportunity to profit from short-term price movements.
He emphasizes the need for additional confirmation to validate a major trend reversal. Key factors include a bullish divergence on the daily chart and a clear five-wave pattern in the price action. Without these confirmations, the analyst remains cautious about declaring the end of the current correction.
For those looking at the short-term trading opportunity, the strategist outlines a detailed trade setup. He advises placing a stop loss at $0.478, representing a minimal risk of around 2.19%. The target for this trade is set at $0.5166, offering a potential gain of approximately 7%. This strategy aims to capture a possible A-B-C corrective wave before a final downward movement.
Furthermore, the crypto analyst discusses the broader influence of Bitcoin’s price action on XRP’s trajectory. He notes that a breakout above the $1.97 high could signal a potential new all-time high for XRP. Examining the larger price structure, he identifies a five-wave move up followed by a zigzag-like corrective pattern, which may form a flag pattern akin to a previous correction phase. If this pattern holds, he anticipates significant expansion once the correction is complete.
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
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 <li><a href="https://cryptonewsland.com/xrp-surges-over-80-in-trading-volume-pivotal-juncture-ahead/" rel="noopener noreferrer nofollow">XRP Surges Over 80% in Trading Volume: Pivotal Juncture Ahead!</a></li>
 <li><a href="https://cryptonewsland.com/cardano-holds-firm-amid-market-volatility-key-insights/" rel="noopener noreferrer nofollow">Cardano Holds Firm Amid Market Volatility: Key Insights</a></li>
 <li><a href="https://cryptonewsland.com/ripple-vs-sec-the-pivotal-november-9-meeting-will-xrp-hit-1/" rel="noopener noreferrer nofollow">Ripple vs. SEC: The Pivotal November 9 Meeting, Will XRP Hit $1?</a></li>
 <li><a href="https://cryptonewsland.com/xrps-resurgence-top-analysts-insight-sparks-hope/" rel="noopener noreferrer nofollow">XRP’s Resurgence: Top Analyst’s Insight Sparks Hope</a></li>
 <li><a href="https://cryptonewsland.com/analyst-unveils-positive-xrp-outlook-support-threshold-at-0-60/" rel="noopener noreferrer nofollow">Analyst Unveils Positive XRP Outlook: Support Threshold at $0.60</a></li>
</ul>
The post <a href="https://cryptonewsland.com/analyst-predicts-major-xrp-surge-if-bitcoin-breaks-key-moving-average/" rel="noopener noreferrer nofollow">Analyst Predicts Major XRP Surge if Bitcoin Breaks Key Moving Average</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Analyst Predicts Major XRP Surge if Bitcoin Breaks Key Moving Average

Crypto News Land

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