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XRP price crypto analyst

Crypto Analyst’s Bullish Prediction Puts XRP Price At $250, Here’s When

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

The XRP price has been characterized by bullish predictions throughout this month. Crypto analysts have put forward countless analyses about why the altcoin is poised for a massive rally. Another analyst has joined the ranks of the bullish, putting the XRP price as high as $250.

Here’s When The XRP Price Will Get To $250

A crypto analyst on TradingView who goes by oaksacorn is envisioning a massive bull market on the horizon. The analysts point out that the current market cycle is mimicking that of the 2015 market cycle which had preceded a massive rally that started in 2016 and ended in early 2018.

Related Reading: Ripple CEO Gears Up To Battle SEC With Renowned Attorney

According to the analyst, this market structure could see the price of Bitcoin reach as high as $215,000. In this case, the analyst projects that the XRP price could rise as high as $43 initially. From here, they believe that the XRP price “will begin to show its light.”

Furthermore, the analyst puts forward that if the market continues to keep in line with the 2015-2017 market cycle, then the price of Bitcoin could reach as high as $1.247 million. Since the general market follows the Bitcoin trend, oaksacorn says the XRP price could shoot as high as $249.

XRP price chart from Tradingview.com

XRP set to rally high in bull market | Source: XRPUSD on Tradingview.com

In closing, the analyst points out that investors should not look at crypto market caps the same they look at the market caps of companies. They explain that these two forms of market caps do not work the same way for each asset. “Do not let the market cap concept smother your potential,” the crypto analyst added.

XRP In The Short-Term

One event that the XRP community is currently looking toward is the Ripple celebration party taking place later this week. The date for the party is set for September 29 and will be held in New York. According to the Ripple CEO, this party is the firm’s way of properly celebrating its victory over the US Securities and Exchange Commission (SEC).

Related Reading: Bitcoin Maximalist Draws Fire From XRP Community With Centralization Claims

Sentiments are expected to turn positive with the celebration as it could serve as a way to boost morale. This could improve confidence in the token and lead to more buying. It also highlights Ripple being able to fight the regulator and win, setting a precedent for other firms in the crypto industry.

The XRP price is already seeing some bullish momentum this week after the bulls were able to beat the $0.5 resistance. Rising interest is also proven in the over 6.6% spike in its daily trading volume in the last 24 hours.

XRP price chart from Tradingview.com (Crypto analyst)

XRP price struggling at $0.5 resistance | Source: XRPUSD on Tradingview.com
Featured image from Crypto News Flash, chart from Tradingview.com
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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