XRP’s Bullish Hammer: Can it Overcome the SEC Hurdle?

• Dark Defender spots a weekly bullish hammer candle on the XRP chart.
• A similar pattern preceded XRP’s exceptional rally in 2017.
• XRP was one of the best-performing cryptos during the 2017 bull run.

An XRP enthusiast, known as Dark Defender on X (formerly Twitter), has spotted a crucial technical pattern on the XRP weekly chart: a rare bullish hammer candle observed during one of the most historical moments in the cryptocurrency’s past.

X: #XRP only had this type of weekly bullish hammer candle in March 2017.

It was just 3 weeks before the XRP Run. pic.twitter.com/wGujRv8IK8

— Dark Defender (@DefendDark) August 6, 2024

Dark Defender considers the recently formed chart pattern a significant bullish signal, citing the pattern’s historical impact on XRP’s price. According to the analyst, the Ripple-linked crypto had this type of weekly bullish hammer candle in March 2017, three weeks before the XRP run.

Notably, XRP’s 2017 bull run started in March, with an initial surge that saw the altcoin rally over 1,400% in about seven weeks. The price consolidated after the initial surge, with the cryptocurrency moving sideways for about six months before the …

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