XRP Faces Fifth Consecutive Red Monthly Candle as Analysts Forecast Gains

XRP is facing its fifth consecutive red monthly candle, a rare occurrence in its price history. This pattern previously led to a significant price rally in 2018, when the cryptocurrency's price surged by over 60,000%.

Analysts are now watching to see if this pattern will repeat itself, with forecasts suggesting that gains of 150-250% could be achievable if the trend continues. However, they note that a repeat of the 2017 explosion is unlikely due to XRP's increased market cap, which makes it much more difficult for significant price movements to occur.

A key factor that could influence XRP's price in the coming months is Bitcoin's performance. If BTC recovers above $75,000 and holds, it could spark a reversal in XRP's price and potentially lead to gains of 157% or more if it reaches its previous cycle high.