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Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
XRP coin

How High Can The XRP Price Go? Here Are Some Interesting Predictions

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

Despite the XRP price sluggish growth, market participants remain highly optimistic about its future outlook. Several analysts have forecasted substantial bullish surges for the XRP price, predicting how high the cryptocurrency’s value could go while also identifying key technical indicators and bullish patterns that suggest a potential price reversal. 

Analyst Questions Timing Of The XRP Price Breakout 

A crypto market expert, identified as ‘The Moon Carl’ on X (formerly Twitter), has questioned the timeline for XRP’s potential breakout to new highs. Sharing a price chart depicting XRP’s symmetrical triangle, the analyst observed that the XRP price has been trading within a large symmetrical triangle pattern for more than four years. 

Related Reading: Major Crypto Exchange Moves To Delist Cardano, Shiba Inu, And XRP Pairs
XRP Price 1
Source: X

For more clarity, a symmetrical triangle is a unique chart pattern characterized by converging trend lines which form a shape that resembles a triangle. A symmetrical triangle pattern often indicates that a cryptocurrency has been in a period of consolidation and could potentially witness a significant price move upwards. 

In regards to XRP, its price has been fluctuating slightly above $0.5 and $0.6 for months now. The cryptocurrency’s market performance has also been lackluster over the past few years, witnessing its most bullish season in 2018 when it rose to an all time high of $3.84. 

Reflecting on XRP’s symmetrical triangle pattern, another crypto analyst, Alex Clay declared that the cryptocurrency was finally breaking out of the symmetrical triangle pattern after being within it for a staggering 2,227 days. During this time, Clay revealed that XRP has been in a phase of accumulation, where its price remained within the boundaries of the aforementioned triangle pattern whilst also facing legal challenges from the United States Securities and Exchange Commission (SEC).  

XRP Price 2
Source: X

Despite the ongoing legal battle with the SEC, Clay has expressed strong bullish expectations for XRP’s future price. He has shared several new price targets for the cryptocurrency, reflecting his confidence and expectations for a forthcoming price. 

Clay forecasts that XRP could reach mid term price targets of either $1.2580 or $1.5700. For his long term target, the analyst anticipates that the cryptocurrency could surge as high as $3.1. 

More Bullish Predictions Set For XRP

At the time of writing, XRP is trading at a price of $0.60, according to CoinMarketCap. Despite the cryptocurrency’s slow price momentum, analysts continue to maintain highly optimistic expectations for XRP’s future value. Notably, a crypto analyst identified as ‘XRP Captain’ has forecasted that XRP could witness a dramatic rise, with a minimum price target of $22. 

Related Reading: Dogecoin And Shiba Inu Whale Transactions Spike Despite Drop In Activity
XRP Price 3
Source: X

Sharing similar sentiments as Clay, XRP Captain based his forecast on the cryptocurrency’s prolonged symmetrical triangle pattern. He optimistically declared that the XRP price is getting ready to explode vertically in the coming weeks, potentially experiencing a bullish breakout to new all-time highs. 

XRP price chart from Tradingview.com
XRP price fluctuates with the crypto market | Source: XRPUSDT on Tradingview.com
Featured image created with Dall.E, 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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