BULL

when

Read

<ul>
 <li>XRP forms a doji candle on the weekly chart, signaling market indecision and a potential trend change.</li>
 <li>XRP historically outperforms Bitcoin after halving events, with gains of over 100% following the third halving in 2020.</li>
 <li>Altcoin seasons often follow Bitcoin halvings, and XRP could see significant gains if history repeats.</li>
</ul>
<p>XRP has been <a href="https://cryptonewsland.com/signs-point-to-massive-xrp-upsurge/" target="_blank" rel="noopener noreferrer nofollow">staging a remarkable comeback</a> while Bitcoin continues to dominate the crypto market. This token has formed a doji candle on the weekly chart as the post below suggests.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> Also forming a doji candle on the weekly signalling indecision against Bitcoin. <br><br>Historically <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> rallied the full measured move within 8 weeks last time this occured!!! <br><br>Measured move is 6000%!!!!! <a href="https://t.co/WDLn1vQ9kX" rel="noopener noreferrer nofollow">pic.twitter.com/WDLn1vQ9kX</a></p>— <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;">BLOCK BULL <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@TheBlockBull) <a href="https://twitter.com/TheBlockBull/status/1809520714166206591?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 6, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>A <a href="https://www.forex.com/en-us/learn-forex-trading/doji-candle/" rel="noopener noreferrer nofollow">doji candle in </a><a href="https://www.forex.com/en-us/learn-forex-trading/doji-candle/" target="_blank" rel="noopener noreferrer nofollow">candlestick</a> occurs when a security’s open and close prices are nearly the same. This creates a candle with a very small body.</p>
<p>This candlestick often indicates market indecision. The doji candle could also signal the prevailing trend may be weakening and a change in direction could be near.</p>
<h2 class="wp-block-heading" id="h-the-bitcoin-halving-connection-nbsp">The Bitcoin Halving Connection&nbsp;</h2>
<p>XRP has historically shown strength during periods surrounding Bitcoin halving events. These events occur approximately every four years when the block reward for Bitcoin miners is cut in half.&nbsp;</p>
<p>After the third halving in May 2020, the XRP/BTC pair surged over 100%. A similar jump of 85% occurred after the second halving in July 2016.</p>
<p>The reasoning behind this phenomenon lies in investor behavior. Following a halving, investors rotate their holdings from Bitcoin to altcoins.&nbsp;</p>
<p>The alt-season is driven by the potential for significant <a href="https://cryptonewsland.com/top-altcoins-ready-for-short-term-gains-as-major-market-rebound-begins-according-to-experts/" rel="noopener noreferrer nofollow">short-term gains </a><a href="https://cryptonewsland.com/top-altcoins-ready-for-short-term-gains-as-major-market-rebound-begins-according-to-experts/" target="_blank" rel="noopener noreferrer nofollow">in</a><a href="https://cryptonewsland.com/top-altcoins-ready-for-short-term-gains-as-major-market-rebound-begins-according-to-experts/" rel="noopener noreferrer nofollow"> altcoins</a>. They have lower market caps and higher volatility compared to Bitcoin during this period (alt-season).</p>
<h2 class="wp-block-heading" id="h-technical-indicators-pointing-upward">Technical Indicators Pointing Upward</h2>
<p>Weekly charts project XRP’s price against Bitcoin to reach its 50-week Exponential Moving Average (EMA) soon. Interestingly, this 50-week EMA has been a bullish target for traders following the last two Bitcoin halvings.</p>
<p>This potential resurgence of XRP highlights a recurring trend within the crypto market – altcoin seasons following <a href="https://www.coindesk.com/learn/bitcoin-halving-explained/" rel="noopener noreferrer nofollow">Bitcoin </a><a href="https://www.coindesk.com/learn/bitcoin-halving-explained/" target="_blank" rel="noopener noreferrer nofollow">halvings</a>. XRP could see significant gains not just against the US dollar but also outperform Bitcoin if history repeats.</p>
<p>&nbsp;XRP’s historical pattern and technical indicators suggest that higher highs may be on the horizon. However, it’s advisable to proceed with caution and do your research before making any investment decisions.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also&nbsp;</h4>
<p>The post <a href="https://cryptonewsland.com/xrp-repeats-a-familiar-pattern/" rel="noopener noreferrer nofollow">XRP Repeats a Familiar Pattern, Sign of More Significant Price Pumps Ahead?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

XRP Repeats a Familiar Pattern, Sign of More Significant Price Pumps Ahead?

Table of Contents

Crypto News Land

Other articles published on Jul 7, 2024

With PawFury (PAW) Coin Presale In Full Swing, Competition From Chainlink And ChainGPT Weakens

Crucial Shiba Inu (SHIB) Alert Issued by Community

North Carolina Governor Roy Cooper vetoes a bill banning CBDCs

Crypto Traders Lose $600 Million In 24 Hours as Bitcoin Crashes, but This Ethereum Gem Keeps Winning

MoonBag Skyrockets As Top Crypto Presale in 2024 While Polkadot and Kaspa Stay in Hot Waters

Back in Action: Ethereum Sellers Target $2,800 Mark Post-Short Respite

Join our free newsletter for daily crypto updates!