XRP has formed a weekly hammer candlestick pattern after dropping to $1.76 on February 3, which traders see as a bullish indicator for future price movements. The pattern suggests a market trend change after steep price declines. XRP's rapid recovery from $1.76 to over $2 has sparked increased interest and potential for a major bullish market movement. This pattern has occurred in the context of a broader market recovery after Bitcoin fell below $100,000. XRP has historically experienced significant price increases after forming hammer candlesticks, leading analysts to consider the possibility of another rally. If the current hammer candlestick continues to match existing patterns, XRP's price could potentially surge, with a 500% rally reaching an all-time high of around $15. Recent analysis suggests that the recent dip in price may be the last before a major breakout, and growing interest in XRP ETF applications further supports the possibility of substantial gains.



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