The technical picture on the XRP/BTC chart confirms the possibility of a future parabolic movement.

Some cryptocurrency analysts are actively monitoring the growth trends of XRP, believing that a breakthrough is inevitable. A market analyst known as Dark Defender shared his observations, noting that the weekly XRP/BTC chart shows a similar value of the relative strength index (RSI) as in the bullish market seasons of 2017 and 2021.

If this technical analysis signal turns out to be reliable, then this may mean that the XRP price is ready for a significant increase.

According to the chart provided by Dark Defender, the RSI on the XRP/BTC chart is in the "oversold" zone, which was typical for the 2017 and 2021 cycles, when the price of XRP reached $3.3 and $1.9, respectively.

Usually, after a significant oversold, cryptocurrencies begin to accumulate, which eventually leads to an increase in price.

The market analyst at CrediBULL Crypto also highlighted the bullish potential of the current XRP price. He noted that the coin had experienced a sufficient drop to attract his attention, and promised to share additional information about the future of this cryptocurrency.

EGRAG CRYPTO also presented its current forecast for XRP, noting the risk of a decline to $0.45, but pointing out the importance of closing the price above $0.60 in the near future.

Despite the optimistic forecasts, some analysts such as CryptoBull have presented a scenario involving a sharp rise in the price of XRP to $2 by March, $6 by April and an amazing $39 by May.