Crypto Analyst Predicts XRP Price Will Rally 800% To $6, Here’s When

The XRP price continues to disappoint investors who expect that it would’ve crossed $1 by now since Ripple’s battle with the United States Securities and Exchange Commission (SEC) is nearing its end. However, this has not discouraged investors and traders who believe that there are big things in store for the altcoin.

Crypto Analyst Predicts XRP Will Reach $6

Pseudonymous crypto analyst Mikybull has been bullish on the XRP price for a long time, taking to X (formerly Twitter) to, once again, reiterate their stance that the altcoin is going to do well. At the start of March, Mikybull had put forward an Analysis that showed that the XRP price is primed for an over 800% run.

Related Reading: Bitcoin Whales Remove A Staggering $2.3 Billion From Exchanges, Is It Time To Buy?

At the time, the crypto analyst pointed out that XRP had broken out of a symmetrical triangle, which is bullish for the price. A similar breakout had taken place back in 2017 which led to an over 1,000% increase in the price, and Mikybull references in the Analysis. However, like the rest of the crypto market, XRP ended up dipping as the Bitcoin price crashed from $73,000 to $61,000. But now that the market is starting to recover, the crypto analyst believes that the altcoin is primed for a big move.

Over the course of March, Mikybull has consistently talked about this prediction, especially as the price retested various resistance points. Then, on Monday, March 25, the crypto analyst shared another chart showing that the XRP price has completed its retest and is ready to move upward.

Mikybull shared that the targets for this move lie between $1 and $6, with the upper end of this target being an 833% move from its current price.

When Will The XRP Price Hit This Target?

While Mikybull does not present a particular timeframe in their Analysis, the charts shared provide some insight into when they expect this move to occur for XRP. Just like in 2017, the crypto analyst expects the rally to take place in the same year as the breakout from the symmetrical triangle, which means it could happen this year.

Related Reading: Bitcoin To $50,000 Or $80,000? Crypto Expert Predicts Where Price Is Headed Next

The breakout could happen toward the middle of the year and this would mean that it would happen after the Bitcoin halving is completed. This is not surprising given that the Bitcoin halving is regarded as the ultimate bull signal and altcoins rally once Bitcoin’s price picks up.

Presently, the XRP price is showing a lot of strength after rallying 11.73% in the last week. It is currently trading at $0.648 at the time of writing, with a market cap of $35.5 billion, which makes its the 6th-largest cryptocurrency by market cap.

XRP price chart from Tradingview.com

Token price trending at $0.64 | Source: XRPUSDT on Tradingview.com

Comments

Post a Comment

Popular posts from this blog

Ripple Analysts Predict XRP Surge to $0.66 as Volume Skyrockets

Image
With Ripple celebrating a year anniversary of a critical ruling in its ongoing legal battle with the US Securities and Exchange Commission (SEC), analysts predict XRP to surge to $0.66 as the tokens’ volume skyrockets. Moreover, investment interest has also surged, only strengthening the forecasts. XRP has surged above the $0.52 level following a 25% increase over the last seven days, according to CoinMarketCap. Additionally, the crypto has seen transactions increase to as much as $2.55 million, despite reversing to its current $1.6 million level. Still, there is reason to be optimistic for the token’s performance. Source – CryptoTicker Also Read: Ripple: Will XRP Skyrocket to $3.81 By 2030? XRP Could Continue Surging Far Above $0.6 Level, Analyst Says In a post to X (formerly Twitter), crypto analyst Dark Defender predicted that Ripple (XRP) could surge to the $0.66 level as its volume skyrockets. Indeed, the analyst noted that the crypto broke resistance at the $0.46 level. Moreover,
Read more

Cardano: ADA To Pump At $10, Analyst Predicts

Image
Cardano, one of the domain’s notable crypto tokens, is yet to experience the bullish onset of the market that its contemporaries are currently basking in. Moreover, the token has long been trading between $0.40 and $0.47, drawing significant speculation on when its price will skyrocket. The ADA ecosystem is looking forward to the Chang Hard Fork update, which is poised to introduce noteworthy changes in Cardano’s infrastructure and order. With the hard fork timeline drawing in hard and fast, several crypto analysts are also busy predicting new price thresholds for ADA and speculating on Cardano’s future price levels.  Also Read: Analyst Predicts Timeline For Cardano’s ( ADA ) Bullish Price Breakout Chang Hard Fork Could Help ADA Surge To $10 Source: Reddit Cardano’s slow price pace has been a serious topic of contention within the crypto community. With the Chang Hard Fork upgrade in the mix, several analysts are banking on ADA ’s meteoric price rise post-fork deployment,
Read more

Setup for High-Quality Altcoins Looking Increasingly Favorable As Global Liquidity Gears Up for Expansion: Jamie Coutts

Image
Real Vision analyst Jamie Coutts thinks high-quality altcoins could be primed for price surges as global liquidity ramps up. Coutts tells his 18,600 followers on the social media platform X that the market looks close to washed out, global liquidity is about to turn higher and the risk/reward picture looks “increasingly favorable” for high-quality altcoins. “Top 200 Equal Weight vs. market cap weight ratio at extreme bearish levels. Currently, it’s -2.8 standard deviations ~ a bearish extreme that only hit on three previous occasions. • 2021: During a bull market that proved to be an excellent re-up for the cycle. • 2022: prematurely, but close to the cycle lows when the market was 70% down. • 2023: Near the SEC-catalyzed capitulation lows, Alts decisively broke higher four months later. Despite a small sample size, this breadth measure hints at upcoming cyclical bottoms and mid-cycle entries. Current data parallels 2021’s mid-cycle slump, not 2022/23’s end.”
Read more