Cryptocurrency analyst Random Crypto Pal predicted this XRP price is finally ready for a breakout while on-chain indicators turn bullish. With a breakout on the horizon, the analyst also provided insight into the price targets that XRP could achieve as it moves higher.

XRP price ready to break

Random Crypto Pal predicted in X’s post that the XRP price was ready for a breakout, sharing an image of the monthly XRP chart. He noted that “an explosion is coming,” indicating that price rally will be parabolic. The analyst stated this by noting that XRP had a perfect retest of both trend lines.

The accompanying chart showed that the price of XRP could rise all the way to the current ATH of $3.84 once it sees a price breakout. XRP has been consolidating for about seven years since 2018 when it reached its current ATH. Since then, the XRP community has been eagerly awaiting a price breakout that never happened during the 2021 bull run.

This time, however, it looks different, given that XRP has finally gained legal clarity and non-security status in the country long legal battle between Ripple and the US Securities and Exchange Commission (SEC).

Meanwhile, metrics in the chain have gained in value and support the breakout of the XRP price. Dynamic addresses on XRP Ledger (XRPL) reached their highest level in six months, indicating renewed interest in the coin among cryptocurrency investors. Fresh investors are also flocking to the XRP ecosystem as the number of modern addresses on the network has increased by over 10%.

The number of daily transactions on the network is also increasing, which shows that investors are actively trading using XRP. Therefore, these on-chain bullish indicators could also contribute to the XRP rally, which Random Crypto Pal says is already on the horizon.

The price can reach triple digits

Crypto analyst Javon Marks reconfirmed that the price of XRP could reach triple digits when the price finally breaks out. In Post Xthe analyst referenced the historic price increases seen by XRP during the 2017 bull run to prove why the coin could reach $200.

The accompanying chart showed that the price of XRP could experience a price breakout by the end of the year and a massive rally that would last until the end of 2025, when the cryptocurrency reaches $200. Interestingly, Dim Defender cryptocurrency analyst also expressed a similar opinion, revealing in post X that the XRP bull market will last from November 2024 to November 2025.

Meanwhile, Javon Marks noted that the similarities between XRP’s current price action and 2017’s price action are “large.” He noted that this time it is larger, which means that the effect of price overshoot could be greater than what occurred in 2017 bull run.

Featured image created with Dall.E, chart from Tradingview.com