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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

XRP Flashes Signal That Last Time Preceded A 464% Rally, Analyst Says

Jake Simmons
Jake Simmons
2 months ago
3 mins read
XRP price news

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In a new video released June 9, crypto analyst CryptoInsightUK issued a extremely bullish XRP update, citing a convergence of technical signals that he believes could set the stage for a powerful upward move. Drawing parallels to previous market cycles, the analyst points to the reappearance of a signal that once preceded a 464% rally in XRP, and says this may mark the beginning of a similar explosive breakout.

XRP Breakout Confirmed?

Yesterday, XRP recorded its highest 4-hour close since May 23, breaking out of a prolonged range. The token has entered what he called a “dense area of liquidity,” an important technical zone that has historically preceded impulsive price action. In a notable divergence from typical market dynamics, XRP is leading Bitcoin, rather than following it. “XRP is currently leading Bitcoin on this move,” he said. “Something I’ve been calling for a while is for XRP to lead alts and lead a potential alt season.”

CryptoInsightUK sees further confirmation in Bitcoin’s setup. BTC is still consolidating but pushing above the $111,000 liquidity zone. A move into that zone, he said, would “give us confluence that the price action XRP’s displaying is not a fakeout.”

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Structurally, XRP’s trend remains intact. Despite recent pullbacks, the token has maintained its higher-low formation, a signal of technical strength. More importantly, XRP/BTC is beginning to show momentum reversal. “We’ve just had the highest 4-hour close since the 24th of May. This is showing the momentum to the downside is waning.”

He highlights a specific line on the XRP/BTC chart referenced by fellow analyst Credible Crypto as the “Gandalf line”—a level that has acted as a pivot point for years. XRP has now closed above it on the 4-hour chart. “We’ve wicked into it, bounced off it. We lose it, we get pushed down hard. We break it, we normally really go for it.”

XRP/BTC Gandalf line
XRP/BTC ‘Gandalf line’ | Source: X @CredibleCrypto

Zooming out, he points to the weekly RSI (Relative Strength Index) on XRP’s price chart. If the current weekly candle closes above the RSI’s simple moving average, it would be the first time since XRP’s breakout off the lows—an event that previously triggered a 464% move to $2.70. “If we get the bullish cross close… 464% from this [level] would take us to $13.05,” he explained. “I think we’re going to about $12 on this push.”

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Analyst Predicts 50% “Moonshot” For XRP Price If This Line Breaks

2 months ago

Moreover, the analyst anticipates a 325% move in XRP/BTC based on historical ratios and a potential surge in XRP dominance toward 14%, with an even more aggressive Elliott Wave count pointing to a possible move to 20% dominance. “We’ve completed a Wyckoff accumulation. We’re in the sign of strength phase. Last point support… we’re going into phase E,” he said, referencing classical technical accumulation structures.

Still, despite the bullish setup, the analyst made clear he plans to de-risk between $8 and $13, emphasizing capital preservation after a potential 20x move from 50 cents. “The risk-to-reward on the downside is just too large at that point,” he noted. “Even if it goes significantly higher… anyone who’s done a 20x on something should be taking some money off the table.”

He concluded the analysis with cautious optimism: “Don’t start counting your Lambos yet, but also probably start scrolling the magazine.” For now, all eyes are on XRP’s price action and Bitcoin’s staying power above $111,000. If both confirm, as he put it: “It’s game on.”

At press time, XRP traded at $2.44.

XRP price
XRP rises back above the 0.236 Fib, 1-day chart | Source: XRPUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com
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Jake Simmons
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

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His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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