With the optimistic sentiment still ruling the cryptocurrency sector, crypto technical analysts have observed that the chart patterns of some of its assets are displaying signs of possible ‘face-melting’ rallies in the near future, in particular those of XRP and Stellar lumens (XLM).
As it happens, pseudonymous crypto market analyst Charting Guy has recently pointed out that the “2 coins that have traded sideways or as some say, ‘done nothing’ for 6 years” would “melt faces very soon,” as he explained in an X פאָדעם ארויס דעם 27טן מערץ.
Indeed, the expert stressed that both “have been consolidating with higher lows, but also lower highs,” forming a symmetrical triangle pattern, which are the “biggest ones I’ve ever seen and their apexes are rather close,” citing his colleague Coins Kid who said that “compression leads to expansion.”
קסרפּ פּרייַז פּראָגנאָז
ספּעסיפיקאַללי, Charting Guy noted that XRP, the token at the center of the court standoff between the United States Securities and Exchange Commission (SEC) and blockchain company Ripple, was targeting an area between $10 and $13, as its symmetrical triangle casually aligned with the top of the observed channel.
As a reminder, the XRP price at press time stands at a mere $0.6198, down 0.01% on the day, gaining 0.01% across the week, and advancing 5.46% in the last month, which means it could soon grow its price between an immense 1,513.42% and 1,997.45%, should the crypto analyst’s predictions prove correct.
XLM פּרייַז פּראָגנאָז
אין די זעלבע צייט, Charting Guy highlighted that XLM was making the same pattern, emphasizing the fact that “these 2 charts are almost identical and they have a very high correlation in price movement,” which could lead Stellar lumens toward hitting the price in the $2.50 zone.
Currently, XLM is changing hands at the price of $0.1367, recording an increase of 0.54% in the last 24 hours, adding 3.47% to its value across the previous seven days, and growing 13.74% on its monthly chart. Should the expert’s prognoses materialize, it could further gain 1,728.42%.
סוף, ווי Charting Guy concluded in response to potential critics of his theory:
“i don’t think you all understand the [total addressable market (TAM)] of XRP & XLM. these coins will run the new financial system as a neutral bridge currencies that connect [central bank digital currencies (CBDCs)]. f*ck trillions. we’re talking QUADRILLIONS of dollars.”
דערווייַל, Coins Kid, the pseudonymous crypto market specialist and a staunch believer in XRP’s future quoted by Charting Guy, shared these remarks on his own X profile, קאַמענטינג in agreement that the “time in the market beats timing the market,” as he said on March 27.
Ultimately, time will tell whether the above predictions come true, but it is important to remember that trends in this industry could easily change, so doing one’s own research and reading up on XLM and XRP news is critical before investing in these assets.
אָפּלייקענונג: דער אינהאַלט אויף דעם פּלאַץ זאָל ניט זיין געהאלטן ינוועסמאַנט עצה. ינוועסטינג איז ספּעקולאַטיווע. ווען ינוועסטינג, דיין קאַפּיטאַל איז אין ריזיקירן.
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Source: https://finbold.com/xrp-and-xlm-about-to-melt-faces-heres-why/