XRP Price on Track for ATH With Bullish Indicators

Major altcoins are outperforming Bitcoin by a significant margin.
XRP showed the Cup and Handle pattern on its 4-hour chart.
Jed McCaleb has sold all of his XRP, Ripple confirms.

At the moment, the crypto market appears to be back in full swing, as some major cryptocurrencies are showing bullish indicators. For instance, leading altcoins such as Ethereum (ETH), XRP, and Polygon (MATIC) are outperforming Bitcoin (BTC) by a huge margin.

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However, among these three, XRP is the most interesting altcoin to watch out for due to the presence of a couple of bullish signals.

XRP/USDT 4-hr chart (source: TradingView)

As seen on the chart above, XRP is rallying hard after reaching what appears to be a perceived bottom. It has now displayed the Cup and Handle pattern, a well-known bullish indicator. The support level has also been going on an uptrend, which looks very well for the altcoin.

On top of these, Jed McCaleb, one of Ripple’s founders who parted ways with the company, has finally emptied his wallet named Tacostand. Tacostand is very popular among crypto OGs since it contained 9 billion XRP, which McCaleb has been dumping since obtaining his token allocation back in 2014.

Now, Tacostand has virtually zero XRP.

Now that there is relatively less selling pressure, XRP bulls can now prepare for the long haul. Specifically, XRP is now poised to hit at least $1 in the next months. Hopefully, it may aim for its all-time high (ATH) of $3.40.

At the time of writing, XRP price is at $0.3549, according to CoinGecko. This price range has been relatively stable, as many people are watching closely — whether the rally will ensue or not.

Disclaimer: The views and opinions in this article belong to the writer alone and they do not necessarily reflect the position of CryptoNewsLand (CNL). No information in this article, whether expressed or implied, should be taken as financial advice. Remember that investing in cryptocurrency poses significant risks to your asset. Hence, CNL strongly recommends all readers perform their own in-depth research before investing in cryptocurrency.

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Jesus Dawal

Jesus Dawal Jr covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.