XRP hasn’t done too hot over the past few months, both in terms of its performance against the U.S. dollar and against Bitcoin. Even over the past year, the third-largest altcoin has collapsed by 50%, underperforming the leading cryptocurrency by a massive margin.<\/p>\n
Despite this, an analyst is starting to believe that the price of XRP is ready to jump, looking to a historical trend that indicates that bulls are poised to take over.<\/p>\n
Analyst Michael Van De Poppe, a contributor to CoinTelegraph and a trader at the Amsterdam Stock Exchange, recently remarked that he believes XRP may be on the verge of posting 175% gains in the coming months.<\/p>\n
The analyst posted the chart seen below, in which he notes that he believes XRP’s current price action is very similar to the bottoming pattern seen in December of 2015 and January of 2016, which was followed by a massive spike to pre-crash levels.<\/p>\n
He said should the current trend play out as it did in the previous cycle, meaning XRP will need to hold the $0.14-$0.17 range, it could surge as high as $0.473 \u2014 175% higher than current prices \u2014 by the middle of 2020.<\/p>\n
\n$XRP<\/a> #RIPPLE<\/a><\/p>\n
Broke down of this range for the first time in a year, similar to the period in December 2015.<\/p>\n
Still expecting that period to be synonym for the current market. <\/p>\n
Area around $0.14-0.17 is must hold zone. https:\/\/t.co\/t0ZtitgrQx<\/a><\/p>\n
— Micha\u00ebl van de Poppe (@CryptoMichNL) December 27, 2019<\/a><\/p><\/blockquote>\n