With the optimistic sentiment still ruling the cryptocurrency sector, crypto technical analysts have observed that the chart patterns of some of its assets are displaying signs of possible ‘face-melting’ rallies in the near future, in particular those of XRP and Stellar lumens (XLM).
As it happens, pseudonymous crypto market analyst Charting Guy has recently pointed out that the “2 coins that have traded sideways or as some say, ‘done nothing’ for 6 years” would “melt faces very soon,” as he explained in an X thread published on March 27.
Indeed, the expert stressed that both “have been consolidating with higher lows, but also lower highs,” forming a symmetrical triangle pattern, which are the “biggest ones I’ve ever seen and their apexes are rather close,” citing his colleague Coins Kid who said that “compression leads to expansion.”
XRP price action analysis. Source: Charting Guy
As a reminder, the XRP price at press time stands at a mere $0.6198, down 0.01% on the day, gaining 0.01% across the week, and advancing 5.46% in the last month, which means it could soon grow its price between an immense 1,513.42% and 1,997.45%, should the crypto analyst’s predictions prove correct.
XRP price 30-day chart. Source: CoinMarketCap
XLM price prediction
At the same time, Charting Guy highlighted that XLM was making the same pattern, emphasizing the fact that “these 2 charts are almost identical and they have a very high correlation in price movement,” which could lead Stellar lumens toward hitting the price in the $2.50 zone.
XLM price action analysis. Source: Charting Guy
Currently, XLM is changing hands at the price of $0.1367, recording an increase of 0.54% in the last 24 hours, adding 3.47% to its value across the previous seven days, and growing 13.74% on its monthly chart. Should the expert’s prognoses materialize, it could further gain 1,728.42%.
XLM price 30-day chart. Source: Finbold
Finally, as Charting Guy concluded in response to potential critics of his theory:
“i don’t think you all understand the [total addressable market (TAM)] of XRP & XLM. these coins will run the new financial system as a neutral bridge currencies that connect [central bank digital currencies (CBDCs)]. f*ck trillions. we’re talking QUADRILLIONS of dollars.”
Meanwhile, Coins Kid, the pseudonymous crypto market specialist and a staunch believer in XRP’s future quoted by Charting Guy, shared these remarks on his own X profile, commenting in agreement that the “time in the market beats timing the market,” as he said on March 27.
Ultimately, time will tell whether the above predictions come true, but it is important to remember that trends in this industry could easily change, so doing one’s own research and reading up on XLM and XRP news is critical before investing in these assets.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
