Analyst Who Predicted XRP’s Rise to $0.50 Anticipates Another Surge to This Level.
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Crypto analyst Crypto Michael, who accurately predicted the recent surge in XRP price when it was valued at $0.5, has forecasted the cryptocurrency’s upcoming trajectory. According to his analysis, XRP is poised to maintain its upward trend and may break through to an all-time high (ATH) above $3.
Analyst Foresees XRP Price Rising Above $3
In a post on X, Michael anticipated a new parabolic surge for XRP once it surpasses the key psychological barrier of $3. He shared this prediction while emphasizing that he had already foreseen the current rally when the altcoin was trading at $0.5. He had previously indicated that a historic breakout was on the horizon for XRP.
Additional Insights
Previously, he pointed out a notable 7-year bull pennant pattern forming for XRP. From this bullish indicator, he suggested that market participants could soon witness one of the most significant breakouts in cryptocurrency history. XRP did break out and has achieved the position of the second-best-performing asset in the top 10 cryptocurrencies by market capitalization in 2024.
Crypto analyst CasiTrade recently indicated that XRP could experience significant upward movement past $3 if it can break and maintain stability above $2.69. This suggests that the anticipated parabolic rally for XRP could happen imminently, potentially surpassing its current ATH of roughly $3.84.
Analyst Ali Martinez also noted that XRP is unlikely to face substantial resistance as it aims for a new ATH. In a post on X, he referenced data from Glassnode to illustrate that there are no significant resistance levels in front of XRP. Furthermore, he identified $2.38 as the crucial support level.
Will We See Double-Digit Gains This Cycle?
Multiple crypto analysts suggest that XRP might soar to double-digit figures within this market cycle. In a post on X, Pepa expressed that their strategy for XRP remains firm. The accompanying chart illustrated expectations of the altcoin climbing as high as $30 by the year’s end or early next year.
Additional Insights
Crypto analyst CrediBULL Crypto also referenced an earlier forecast predicting XRP would reach $28 by the end of 2025. This expected trajectory is anticipated to signify Wave 5 in his Elliott Wave Theory analysis. Likewise, analyst Egrag Crypto suggested a price range for XRP between $27 and $33 during this cycle. Conversely, analyst Mikybull Crypto projected a more conservative target, with expectations of the altcoin reaching between $4 and $6.
As of now, XRP is trading around $2.52, reflecting a nearly 2% decline in the last 24 hours, according to market data.
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