Here’s XRP Price Prediction According to Wyckoff & Golden Cross Patterns

XRP price eyes more gains today, April 23, despite retreating to $2.19 after being rejected at a critical hurdle of $2.30. Despite this reversal, a bullish formation on the Wyckoff pattern and the recent golden cross that appeared on the altcoin market cap chart suggest Ripple is set for more gains.

XRP Price Prediction as Wyckoff Pattern Signals Rally 

Crypto market analyst ChartingGuy has shared a detailed forecast for XRP price using the Wyckoff Accumulation pattern, suggesting that Ripple is primed for a bull run. Based on the phase that Ripple appears to be in within the channel, it eyes a strong upward breakout in the coming weeks. 

The Wyckoff pattern usually identifies the period where smart money accumulates an altcoin, and based on the current XRP price, Ripple is in phase D, which suggests that smart money have finished accumulating and are holding their positions. This might precede a breakout. 

Before the next XRP price rally, Ripple might drop to test support at around $2. If it can defend this support, it will enter an aggressive markup phase that will push it past the record high of $3.40 to surpass $4. 

Based on this Ripple price forecast by analyst ChartingGuy, it is clear that this altcoin might be on the verge of a major upswing past $3. One of the catalysts that might drive this rally is XRP ETF approvals. 

Will Ripple Lead the Next Altcoin Season 

According to another crypto market analyst, Austin Hilton, altcoins appear ready for a massive breakout after forming a golden cross. The 100-day moving average is crossing above the 200-day moving average, which may precede a long-term bullish trend. 

These highly anticipated gains across the altcoin market further support a bullish XRP price prediction. Hilton also observed that the altcoin market cap previously formed a golden cross in April 2021. Shortly after forming this golden cross, the price shot up by more than 200%, indicating that traders could make significant profits with XRP. 

If history rhymes and the altcoin golden cross also fuels gains for Ripple, this altcoin may make a massive breakout towards $6. This also aligns with the forecast outlined in the Wyckoff Reaccumulation analysis. 

Analyst CryptoSensei notes that this rally is likely to happen with Ripple, considering the growth of the XRP Ledger. He noted that the blockchain’s growing usage in areas such as tokenization could bolster demand and support a price rally. 

What’s Next for XRP Price? 

The Wyckoff pattern and the formation of a golden cross in the altcoin market cap suggest that the XRP price might be on the verge of a massive rally. As smart money holds their positions, this altcoin might soon surge past $3 to all-time highs. 

The derivatives market hints that traders are already taking up positions as they anticipate an uptrend. Data from Coinglass shows that Ripple’s open interest is at $3.87 billion. If traders are taking up long positions, it shows optimism towards a bullish XRP price prediction.