Can The XRP Price Cross $250? Crypto Analyst Predicts 42,000% Breakout
2024年8月15日 - 11:00AM
NEWSBTC
A crypto analyst has issued a bold price forecast for the XRP
price, the native token of the XRP Ledger (XRPL). The analyst
foresees a massive 42,000% breakout in XRP’s price, potentially
pushing the cryptocurrency beyond the $250 mark. Analyst
Foresees XRP Price Reaching $263 Javon Marks, a crypto analyst,
took to X (formerly Twitter) on August 13 to discuss his analysis
of XRP’s recent price movements and future outlook. The analyst
boldly suggests that if XRP experiences a bullish breakout today,
then the price of the cryptocurrency could reach $263, representing
a 42,000% increase from its current value. Related Reading:
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What This Means According to Marks chart analysis, XRP is nearing
the converging point of a nearly seven year old consolidation
pattern. The analyst disclosed that the development of this pattern
has triggered the appearance of multiple bullish signals,
indicating the strong potential for a significant breakout. Marks
has grounded his optimistic forecast for XRP on key historical
strategies and patterns. The analyst strongly believes that XRP
could reach its full potential by experiencing a massive price
increase above the $200 mark. This bullish projection is based on
the assumption that XRP replicates or follows through the favorable
conditions and trends from past successful periods. Given
that XRP’s price is presently trading below $1, the analyst’s price
forecast may appear as overly optimistic or ambitious. However,
since Ripple’s legal win against the United States Securities and
Exchange Commission (SEC), many analysts have become incredibly
bullish about XRP’s price outlook. A few analysts have
suggested that the regulatory clarity from the concluded Ripple and
SEC case could trigger bullish momentum for XRP. At the time of
writing, XRP is trading at $0.57, reflecting a 12.14% increase over
the past seven days, according to CoinMarketCap. XRP Eyes
Fresh Breakout To $600 In a recent X post, crypto analyst and
XRP supporter Brett Hill declared that XRP’s long-awaited breakout
from the 2018 to 2024 triangle pattern was imminent. Hill
predicts that if XRP successfully breaks through this unique
triangle pattern, it could trigger a dramatic rise to $600.
Sharing a price chart of XRP’s movement from 2014 to 2024, the
analyst compared XRP’s projected breakout to $600 with a past event
between 2013 and 2017, where the cryptocurrency witnessed a massive
price surge. Based on this historical trend, Hill suggests that XRP
could witness a similar price movement, potentially pushing its
price to new all-time highs. Related Reading: Ethereum Price
Ready For 75% Breakout To $4,723, Here’s Why Providing a more
conservative price forecast for XRP, a crypto analyst identified as
‘Dark Defender’ has outlined several price targets for XRP. The
analyst revealed that a Bullish Hammer Candle observed on XRP’s
weekly chart was now forming on a larger monthly scale, indicating
a potential for a strong bullish trend. Based on this candle
pattern, Dark Defender forecasts that XRP could achieve new price
targets of around $1, $1.4, and $1.88 if current bullish trends
continue. Featured image created with Dall.E, chart
from Tradingview.com
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