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XRP price

Crypto Analyst Says Prepare For 1300% XRP Price Breakout To $8 If This Happens

Best Owie
by Best Owie
1 year ago
·
Posted in XRP
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

There have been a number of XRP price predictions over the last month and the vast majority have been incredibly bullish. This bullishness stems from the fact that Ripple has secured multiple wins against the United States Securities and Exchange Commission (SEC) over this time, allowing the digital asset the space to begin climbing up once more. In the same vein, another crypto analyst has made a bullish prediction for the XRP price/

1,300% Breakout To $8 For XRP Price

Crypto analyst JD took to X (formerly Twitter) to update his over 31,000 followers on where he expects the XRP price to go next. JD who has been a staunch XRP bull maintains this stance in the analysis that puts the digital asset’s price at $8.

Related Reading: Dogecoin 2200% Breakout: Analyst Reveals Why You Should Buy DOGE Now

This analysis came with a chart that carried JD’s expectations for the cryptocurrency. He points out a triangle formation that has reappeared once more to back up this prediction. Mostly, the expectation comes from historical performance as the last time that the 4-year trend line breakout happened, it led to a massive surge in price. At the time, XRP had gone from $0.005 to $3 before correcting back downwards. And now, the same trend line breakout has appeared again but on a much bigger scale.

XRP price

Source: JD on X

JD’s chart shows an 8-year trend line, a breakout from which, he expects the XRP price to blow up. If this breakout does happen, the crypto analyst puts the first target for the XRP price at $8, a whopping 1,300% rally from its current price. “#XRP monthly close is tomorrow, & still w/in the Symmetric Triangle. If we can have a confirmed breakout, Green Box would be the target!”

The analyst sees this as an opportunity, saying, “Loaded up heavily within orange box.” He also leaves a piece of advice for his followers as well to focus on the trend. “Ignore all narratives/news this coming bull cycle, and follow the chart!”

XRP price chart from price chart from Tradingview.com

XRP retraces after brief spike | Source: XRPUSD on Tradingview.com

Buying For The Long Term

A previous X (formerly Twitter) post from the crypto analyst solidifies their bullish outlook for the XRP price. JD had previously expected a correction and with that correction playing out has now flipped bullish with an expectation for the digital asset to confirm the multi-month trend line breakout on October 31.

Related Reading: Meme Coins Are Dominating Once Again, Here Are The Winners

According to the chart, JD’s buy level had been just around $0.49 and as the price broke above $0.54, bullish sentiment became more settled. The analyst explains that as long as the XRP price continues to rise above $0.54, the chances of a takeout (a false breakout) become smaller.

When asked by another user where the expected target for this analysis lies, JD responded that a “measured move would be around 0.60.” However, he explains that the altcoin “could break higher if XRP/BTC chart starts heading higher.”

Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Best Owie is a Managing Editor at Bitcoinist with extensive experience and a proficient expert known for crafting captivating and insightful content. Best boasts over six years in the crypto sector, and has supervised the conception and publication of thousands of articles. Best is also a content and marketing strategist with the ability to make sure your content reaches the right audience and beyond. In every aspect, Best stands out as a consummate professional, always striving for unparalleled excellence both within and outside the workplace.

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