Amid the recent market volatility, major cryptocurrencies such as XRP There has been a wave of optimism among investors and traders as many cryptocurrency analysts continue to make bold predictions for this altcoin.
Although XRP has not seen a significant enhance since reaching its current all-time high in 2017, analysts believe a similar move could occur in the ongoing bull cycle.
Is XRP on the verge of hitting a modern all-time high?
In a bold way forecastRenowned cryptocurrency expert and trader Xaif, delving into the current XRP price action, claims that the crypto asset is preparing for a possible significant breakout, suggesting renewed strength ahead of a major rally ahead. Xaif made the bold prediction after citing a bullish symmetrical triangle pattern on altcoinChart in weekly time frame.
More specifically, this pattern develops when a rising line connecting the lows and a falling line connecting the highs converge. They also suggest a consolidation phase before a potential breakout to the upside or downside.
However, in this scenario, the cryptocurrency expert has identified an imminent massive surge in XRP, which indicates the possibility sturdy move for the digital asset in the coming days. Analyzing the scale of the breakout, Xaif set his next price target for XRP at the key level of $150 in the next 6 months.
Xaif’s prediction has apparently caused quite a stir in the community, as crypto enthusiasts have been voicing their sturdy displeasure with the analyst’s bold prediction. Despite the nature of crypto assets being subject to wild price fluctuations, these enthusiasts have criticized the analyst for his claims, which are believed to negatively impact the community.
While the community has been harshly critical of his predictions, Xaif remained adamant, noting that the token is a real-life utility and that the ability to support XRP transactions globally will accelerate this massive growth to the $150 threshold and even beyond.
However, Xaif in a different fastingilluminated that XRP is stabilizing with the rising trendline between the $0.5650 support range and the $0.6450 resistance level. Meanwhile, a drop below $0.5650 or the trendline could indicate a negative trend, while breakout above 0.6450 would suggest an upward move.
Altcoin needs to break through key resistance levels
Whether or not a move to $150 is imminent, XRP is poised for a bullish breakout. Another crypto analyst, Fiatleakhas predicted A breakthrough for altcoin in the miniature term.
According to Fiatleak, the altcoin has been showing clear signs of growth over the past 2 days, driven by growing market optimism and recent promising developments at the U.S. Securities and Exchange Commission (SEC) legal battle with financial giant Ripple.
The analyst said the token’s value fluctuated between $0.57 and $0.65 during this period, and other experts believe that if XRP manages to overcome a significant resistance levelscould achieve modern all-time records.
Featured image from Adobe Stock, chart from Tradingview.com
