- XRP could surge to $4.5 in September, driven by Wyckoff Accumulation phase.
- Key phases ahead for XRP could lead to breakout rally.
- Successful resistance breakout may propel XRP to new September highs.
New analysis suggests that XRP could be gearing up for a significant surge in the coming weeks. According to expert insights shared by Charting Guy (@ChartingGuy) on X, XRP is progressing through a Wyckoff Reaccumulation phase, and if it continues to follow this pattern, it could see a notable price increase, potentially reaching as high as $4.5 in September.
Wyckoff Accumulation is a technical approach to analysis that concentrates on large-end institutional involvement, commonly known as smart money. The process breaks down the market into various stages, and the accumulation stage is especially important.
In this stage, such institutional investors accumulate assets stealthily in anticipation of a significant price advance, resulting in a steep rise.
Also Read: BNB Soars 3% After Major ETF Filing: Is This the Next Crypto Breakthrough?
XRP’s Current Position in the Wyckoff Cycle
XRP’s price action has shown signs of moving through various stages of the Wyckoff Reaccumulation process. The cryptocurrency has seen a Buying Climax (BC) and Sign of Weakness (ST), where the price began to reverse.
When the ST phase ended, XRP entered Preliminary Support (PSY), which assisted in building support levels prior to the Automatic Rally (AR). This rally is a sign of a recovery period, and it can be said that XRP is starting to gain momentum and might be preparing to move higher.
Among the most important stages to follow is the “Creek” phase, when XRP will meet resistance at a very important price point. A breakout above this point would be a good sign of the cryptocurrency’s strength, which would indicate an even larger rally.
The Spring Phase and XRP’s Future Potential
The next critical phase is the “Spring,” a stage where the price often dips below support before quickly rebounding. This move tests the strength of XRP’s support levels and helps confirm whether the market is truly in an accumulation phase.
If XRP sustains support and demonstrates strength, it may be able to enter the Last Point of Support (LPS) stage. This step confirms accumulation and may be the precursor to a positive price trend.
XRP’s Potential for a Bullish Breakout in September
Once the LPS phase is confirmed, XRP will enter the Sign of Strength (SOS) phase, where it will likely begin its upward move. If XRP can breach key resistance levels, it could reach $4.5, according to Charting Guy analysis, setting new highs in September.
Traders and investors alike are keeping a close eye on these developments, as the coming weeks could prove crucial for XRP’s price trajectory.
Also Read: Here’s How XRP Will Hit 4,761, But Not Exactly What You Think
