XRP’s price action this cycle has been full of notable bull runs. However, according to a crypto analyst known pseudonymously as CryptoBull, the real bull run is yet to begin. According to a technical analysis posted on X by this analyst, when XRP finally begins its bull run, the massive swing will take its price action to as high as $37. 

Analyst Says XRP Bull Run Hasn’t Started Yet

XRP has displayed wide price swings in the past week, moving between $2.78 and $3.12 as volatility intensified across the wider crypto market. The token opened the week at $2.86 after a sharp sell-off, bounced back above $3.07 in a midweek surge, then retraced again before recovering to around $2.92 at the time of writing. These movements have kept XRP locked around the $3 level, which is shaping up as both resistance and support in the short term.

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Despite the price hovering around $3, which is still a 400% increase from its price point a year ago, crypto analyst CryptoBull argued that XRP has not yet entered its true bull run phase. In a post on X, the analyst highlighted how the current chart structure is repeating the pattern seen between 2015 and 2018. During that cycle, XRP traded in a prolonged sideways range before breaking into its historic rally that carried its price to an all-time high of $3.4. 

Although XRP has already broken past this price point to register a new peak of $3.65 this cycle, it is still closing below its previous peak. According to the analyst, this means that the breakout to new highs has not been confirmed. The accompanying chart reinforces this view, showing a consolidation just below the old ATH, with an arrow pointing to where the bull run begins.

A Path To $37 If History Repeats Itself

The most important takeaway here is for XRP to start closing above its previous all-time high of $3.4, especially on the weekly candlestick timeframe. According to CryptoBull, XRP would still be positioned to surge as high as $37 if this happens. This price target is based on the previous breakout in 2017, albeit with a reduced percentage gain.

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If realized, this would represent more than a 1,130% increase from today’s price levels. Based on XRP’s current circulating supply, this would translate to a market cap of over $2.4 trillion. To put this into perspective, Bitcoin’s current market cap is currently about $2.2 trillion.

Although this target might be too bullish, some XRP proponents have suggested that a Spot XRP ETF approval later this year could be the catalyst needed to ignite such a move. Others have even pointed to a larger price target above $100 contingent on XRP’s adoption among banks and other financial institutions.

At the time of writing, XRP is trading at $2.92, down by 2.7% in the past 24 hours.

Featured image from iStock, chart from Tradingview.com

A closely followed crypto strategist believes that the stage is now set for Bitcoin (BTC) to go on a parabolic rally.

Pseudonymous analyst TechDev tells his 522,200 followers on the social media platform X that he’s looking at a setup that has previously triggered a 6x surge for BTC.

According to TechDev, Bitcoin went on a rampage in 2020 as global liquidity erupted and gold ignited a huge upside burst.

“Time to realize you’ve been right here before.

Last time gold went parabolic as global liquidity surged out of its retested breakout…

Bitcoin launched 500%.” 

TechDev supports his bullish stance on Bitcoin by pointing out that BTC has historically witnessed huge upside gains whenever global liquidity goes parabolic, just as the business cycle bottoms out.

Global liquidity refers to the amount of money sloshing in the world’s financial system, while the business cycle tracks the rise and fall of economic activity over time.

“This chart says the largest Bitcoin move in five years has begun.”

The analyst believes that the abundance of funds amid surging global liquidity and the reallocation of capital from gold to Bitcoin would serve as tailwinds for BTC’s ascent to new record levels.

“Gold goes parabolic > Liquidity breaks out > Flows to BTC + rotation from gold sends BTC parabolic

Not an original story.” 

At time of writing, Bitcoin is trading for $95,925.

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A crypto strategist who continues to grow a following with timely Bitcoin calls believes that BTC’s bull market is far from over despite the prevailing bearish sentiment.

Pseudonymous analyst Credible tells his 467,000 followers on the social media platform X that he’s keeping a close watch on the activities of long-term holders (LTHs) of BTC, which are entities holding coins for at least 155 days.

According to Credible, there are signs that LTHs are now gobbling up the crypto king after unloading their BTC stacks for months.

“It’s been three to four months since the last post I made on long-term holder supply, in which I showed that long-term holders had been net distributing on the rise from $68,000-$110,000 BTC.

This distribution almost always occurs during impulsive price action as long-term holders sell into pumps. This is normal/expected in bull markets. We can see that the selling continued aggressively into $110,000 but then began to slow (but continued) into March.

As of April, LTHs have officially begun accumulating BTC once more.

For the last seven months, long-term holders sold into the rip.

Now, they’re buying the dip.”

As long-term holders take advantage of the market correction, Credible believes that Bitcoin is now gearing up for a rally that could send BTC to new all-time high levels before ending its bull cycle.

“On something like BTC, however, the time to buy spot was much, much lower. Sure, we can go higher this cycle, but upside this cycle is relatively limited (and by that I mean 2-3x from current Ievels) if the top isn’t already in (I don’t believe it is personally).

Best risk/reward level for swing longs (a trade) on BTC is at high time frame demand at $69,000-$74,000 (which we may or may not get).” 

But in the short term, Credible predicts that Bitcoin will spark one more leg up before witnessing another downswing.

“Liquidity taken from the upside and approaching the first area of interest at $86,000+”

At time of writing, Bitcoin is trading for $87,377.

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As the cycle progresses, many investors are waiting for a long-standing AltS season, and opinions are divided on whether or not it will happen. Some market watchers have confirmed that Altcoins (Alt) is preparing for an explosive breakout, while others, including Cryptoquant’s CEO, suggest different outlooks.

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There are very few cryptocurrencies to “survive” AltSeason

On Friday, Ki Young Ju, founder and CEO of Cryptoquant, confirmed that Altseason had begun. In the X-thread, Ju noted that this cycle is “supported by Stablecoin holders”, suggesting that there is no direct ALT spin from Bitcoin.

According to JU, Bitcoin is no longer a quotation mark cryptocurrency, and Bitcoin (BTC) advantage has not no longer defined AltSeason. In a December post, he explained that “Altcoins were used to move together based on their correlation with BTC,” but this pattern is currently broken.

Instead, he said that the volume of trading is the metric that defines it, and that Altcoins currently has 2.7 times the volume of Bitcoin. JU also considers this to be a highly selective and challenging AltSeseason. This is just a powerful user case and a few Altcoins where the story is expected to flourish.

He added that despite good market sentiment, there was no fresh liquidity and “feels like a PVP fight over a fixed pie.” As a result, the Altcoin battle is “intensifying”, and only a few are pumping this AltSeason to attract new fluidity.

The Altcoin market is currently a zero-sum PVP game. Bitcoin doubled its market capitalization, but ALT’s market capitalization is still below its previous ATH, spinning themselves without fresh capital inflows. Only a few alts with powerful use cases and stories survive.

Altcoin ready for the next leg

Trader Crypto Yoddha suggested that Altcoins are “ready for round two” after their recent performance. According to the post, the Crypto market, excluding BTC and ETH, is following the 2020-2021 Playbook.

During the final cycle, the altcoin experienced two legs towards the top of the cycle, experiencing an all-time high of $1.13 trillion. In the “first round,” they saw a small re-accumulation stage before erupting from the accumulation period and surged to the previous top.

After regaining this resistance level, Altcoins began “Round 2” and achieved various new highs before reaching a new cycle top. Yodda pointed out that the market was finishing its first round as he tested the top of the final cycle during the post-election pump.

Analyst Rekt Capital has declared that the market capitalization of cryptos, excluding the top 10 tokens, has “completed the second part of the double bottom.” He explained that since the February 3 revision, Altcoins had consolidated the $250 billion to $280 billion range.

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According to the post, Alts should retest this level, above $280 billion, see a breakout from the resistance for three weeks and try to regain the $300 billion mark.

Similarly, analyst Carl Runefelt said Altcoins are in parabolic movement after they emerged from the two-month descending channel. Alts saw a 120% rise after escaping the descending channel for several months in 2024. Altcoins need to regain a $300 billion resistance to break away from this pattern.

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