XRP Bulls Eye 700% Rally as Price Hits Rare Setup

XRP has rebounded by around 23% from its June 6 low near $1.05, reaching about $1.30 on Monday.

This move came as traders rotated back into risk assets after the US and Iran reached a preliminary peace deal, which also pressured oil prices lower and supported broader market sentiment.

XRP is now flashing a major bullish reversal setup that could pave the way for a 700% rally, according to analyst Crypto Patel.

The recent price action resembles the rebound before XRP's major breakout in mid-2020, with Patel projecting upside targets at $5 and $10.