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Join WhatsApp channelA well-known advocate of Bitcoin, who is highly respected in the cryptocurrency community, recently expressed his belief that the value of the native token of the XRP Ledger, $XRP, may experience a substantial market rally in the near future.
The analyst boldly set a price target of $10 for $XRP, but this is contingent upon receiving regulatory approval. Sharing his thoughts with his extensive following of over 60,000 users on Twitter, known as Crypto Caesar, this analyst is known for being a staunch supporter of Bitcoin. He believes that if XRP receives clarity in terms of regulations, it has the potential to surge exponentially.
Related: XRP: Your Ticket to Financial Freedom or a Dead-End Investment?
According to his latest analysis, Caesar emphasizes that XRP is poised for a substantial upward movement when examining the monthly timeframe. This prediction is reinforced by a bullish crossover observed on the Linear Moving Average Convergence Divergence (LMACD) indicator.
The LMACD is a tool utilized to identify possible shifts in market trends and generate signals to buy or sell an asset. It is a variation of the standard MACD indicator that utilizes linear moving averages instead of exponential ones.
The confirmation of a bullish crossover on XRP’s LMACD indicates a promising outlook for the asset. It signifies that the short-term linear moving average has surpassed the longer-term average, suggesting a potential price surge.
Interestingly, historical data indicates that such a scenario has occurred twice since 2016, and on both occasions, it resulted in a significant increase in XRP’s value.
Disclaimer: Views and Opinions Shared for Informational Purposes Only, Not Financial Advice
