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XRP price

XRP Price Breaks 6-Year Trendline: Crypto Analyst Says Prepare For Face-Melting Rally

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

Crypto analyst Jaydee recently highlighted a six-year trendline that could be significant for the XRP price potential move to the upside. Interestingly, the crypto token could already be set for a parabolic move, considering it has already broken this trendline. 

XRP Price Breaks Out From Six-Year Trendline

Jaydee confirmed in an X (formerly Twitter) post that XRP finally broke out from the six-year trendline he had alluded to earlier. In his earlier X post, he mentioned that a breakout from that trendline would be “massive” for XRP’s price. From the accompanying chart he shared, he hinted at XRP rising to as high as $3 when this breakout occurs (which it already did). 

Related Reading: Terra Classic Poised To Reawaken As Binance Burns 2.2 Billion LUNC

If so, this imminent XRP rally coincides with crypto analyst Crypto Rover’s prediction that XRP would experience a “massive breakout” in March. Rover’s prediction is, however, more conservative as he hinted at the crypto token rising to just above $1 when this happens. 

Meanwhile, a significant rally from XRP right now will provide further optimism that crypto analyst Egrag Crypto’s prediction that XRP will rise to $5 by April can truly be actualized. Indeed, XRP has seen some form of resurgence lately, with the crypto token up by over 18% in the last seven days. 

A rise above $1 will also be significant, as XRP has not traded above that level since 2021. The crypto token wasn’t even able to hit the $1 mark when the court ruled it wasn’t a security in itself last year. It will also serve as a reward for XRP investors who have continued to hold the crypto token even when its price was stagnant for the longest time. 

XRP Trading Below $1 Might Soon Be A Thing Of The Past

Crypto analyst Egrag Crypto has also fuelled the revived bullishness on the XRP token. He suggested in an X post that XRP trading below the $1 mark would be a thing of the past if the crypto token were to achieve multiple closes above $1.3 “convincingly.” XRP rising to $1.3 would also pave the way for the token to hit all targets that Egrag highlighted. 

Related Reading: Crypto Scams Persist: Exit Scams, Hacks Cost Crypto Sector $160 Million In February

Egrag’s most bullish price prediction for XRP heading into this bull cycle remains at the $27 mark. He once mentioned that this was a “plausible target” since XRP price saw a 61,000% gain in 280 days back in 2017. 

At the time of writing, XRP is trading at around $0.64, up over 4% in the last 24 hours, according to data from CoinMarketCap. 

XRP price chart from Tradingview.com

XRP price at $0.65 | Source: XRPUSD on Tradingview.com
Featured image from U.Today, 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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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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