The possibility of a large 45% increase in the price of XRP is being closely watched, as U.Today found a remarkable link between the token’s past and present. Comparing its pricing behaviour to that of 2018, it seems like XRP is about to stun the cryptocurrency world once more.
As a result, history shows that following a spectacular surge in 2018, XRP saw a correction phase during which it recovered 23% in just four days. A further wave of growth, from late October to early November, was less tumultuous but nevertheless considerable, resulting in an astounding 45% jump.
In the present, the price correction of XRP from its highs has proved considerably tighter, even if it has remained well inside the parameters of the “perfect correction” idea. As per this idea, the correction ought to not surpass one-third of the original impulse. Additionally, XRP has established robust support at the $0.653 per token level.
As long as XRP stays above this critical level, there is still room for a significant increase in value. There’s a chance that we may witness anything like what happened in the autumn of 2018.
As with any financial market, there are hazards, though. If XRP stays below this support level for a long time without exhibiting strength, there will eventually be less chance of another big wave of rise. The possibility for significant gain may be seriously jeopardised if the price fell below this mark, particularly if the daily candle closed below $0.653.
