Cryptocurrency analyst releases bold price prediction for XRP, the native token XRP Ledger (XRPL)Analyst predicts huge 42,000% XRP price breakoutwhich could potentially push the cryptocurrency’s price above $250.
Analyst predicts XRP price to reach $263
Cryptocurrency analyst Javon Marks took to X (formerly Twitter) on August 13 to to discuss his analysis of XRP’s recent price movements and future prospects. The analyst boldly suggests that if XRP is experiencing a bullish breakout Today, the cryptocurrency’s price could reach $263, which would be a 42,000% boost from its current value.
According to the analysis of Marx’s chart, XRP is approaching the point of convergence of a nearly seven-year consolidation pattern. The analyst revealed that the development of this pattern has triggered the emergence of many bull signalswhich indicates high potential for a significant breakout.
Marx grounded his confident forecast for XRP on key historical strategies and patterns. The analyst believes that XRP can reach its full potential by experiencing a massive price boost above $200This bullish forecast is based on the assumption that XRP is replicating or following favorable conditions and trends from previous periods of success.
If you take into account XRP Price is currently trading below $1, the analyst’s price forecast may seem overly confident or ambitious. However, since Ripple’s legal victory against the United States Securities and Exchange Commission (SEC), many analysts have become incredibly confident on the XRP price outlook.
Several analysts have suggested that regulatory transparency ended the Ripple and SEC caseI could trigger bullish momentum for XRP. At the time of writing, XRP is trading at $0.57, up 12.14% over the past seven days, according to CoinMarketCap.
XRP Expects Up-to-date Breakout to $600
In the recent Posts XCryptocurrency analyst and XRP advocate Brett Hill has stated that XRP’s long-awaited breakout from the 2018-2024 triangle is inevitable. Hill predicts that if XRP successfully breaks through this unique triangle pattern, it could trigger a acute rise to $600.
Sharing a price chart of XRP’s movement from 2014 to 2024, the analyst compared XRP’s projected breakout to $600 to a past event that took place between 2013 and 2017, when the cryptocurrency experienced a massive price boost. Based on this historical trend, Hill suggests that XRP could experience a similar price movement, potentially raising its price to fresh record levels.
Providing more conservative price forecast in the case of XRP, a cryptocurrency analyst known as “Dark Defender” scratched several price targets for XRP. The analyst revealed that the Bullish Hammer Candle observed on the weekly XRP chart is now forming on a larger monthly scale, indicating the potential for a powerful uptrend.
Based on this candlestick pattern, Dim Defender predicts that XRP could reach fresh price targets at around $1, $1.4, and $1.88 if the current uptrends continue.
Featured image created with Dall.E, chart from Tradingview.com
