As a seasoned researcher with over two decades of experience in the financial markets, I have seen many bullish predictions come and go. However, the recent XRP price forecasts from crypto experts have caught my attention due to their collective conviction and the unique factors at play.
Cryptocurrency analysts are expressing optimistic forecasts for XRP‘s price increase, even though its current trading activity remains static. A key factor that might trigger this anticipated surge could be the impending deadline for the SEC’s appeal in the ongoing lawsuit against Ripple. If no further appeal is filed, it will mark the end of the drawn-out legal battle, which has had a significant impact on XRP.
Crypto Experts Reveal Their Predictions For XRP
Expert Crypto Bitlord mentioned in an X post that he believes XRP is ready and that he expects a “parabolic explosion” to the upside within 24 hours. He advised market participants not to sleep on XRP as millions can be made by timing this move.
Crypto analyst Jackis also provided a bullish prediction for XRP. He shared an inverted chart in an X post while stating that the breakdown will be violent, although alluding to an imminent breakout. The chart showed that XRP could finally reach $1 when this projected breakout occurs.
Crypto expert Dark Defender believes XRP could hit $1 quickly, as he thinks it’s poised to break through its current weekly Ichimoku Cloud at $0.6649. He anticipates this upward trend will also shatter the resistance level from January 2018 that lies above $1.03.
Mikybull Crypto, a well-informed crypto analyst, is expressing optimism about XRP. He suggests that a pattern similar to what happened in 2017 might reoccur for the cryptocurrency during this cycle. Using the phrase “history doesn’t always repeat itself but often rhymes,” he implies that while exact repetition may not occur, there are likely to be similarities. The year 2017 saw a remarkable price increase of over 61,000% for XRP within just 280 days.
In another X post, Mikybull Crypto claimed that XRP has one of the most bullish macro charts out there. The accompanying chart he shared showed that the altcoin could, at some point, reach $45, although that looks unlikely to happen in this market cycle. However, crypto analysts like Egrag Crypto have predicted that XRP’s price can reach double digits in this bull run.
Bullish Pennant On The Chart
Through a recent post on X, cryptocurrency analyst Armando Pantoja drew attention to an impressive 7-year bullish pennant formation on the XRP price chart. He emphasized that he has not encountered anything similar in his extensive trading career. As such, he suggested that the upcoming market action may present one of the most significant breakouts we’ll see this year.
He believes that the breakout should be parabolic considering that XRP’s price has consolidated for these seven years. He remarked that the charts rarely lie and that this setup is too perfect. His accompanying chart showed that the crypto can rise to $4 when this breakout finally happens.
Currently, the value of XRP stands approximately at $0.58, representing a decrease of more than 1% compared to its price 24 hours ago, as per information from CoinMarketCap.
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2024-09-24 20:10