As a seasoned analyst with over two decades of experience in the financial markets, I’ve seen my fair share of bull runs and bear markets. However, the prediction made by Random Crypto Pal for XRP‘s price breakout has piqued my interest. The perfect retest of trend lines, coupled with the surge in active addresses and daily transactions, suggests that we might be on the cusp of a significant move.
According to crypto expert Random Crypto Pal, the cost of XRP is poised for a significant increase, as on-chain data indicates a positive trend. As this breakout approaches, he has offered potential price levels that XRP might reach during its upward trajectory.
XRP Price Ready For A Breakout
Random Crypto Pal predicted in X post that the XRP price was ready for a breakout while sharing a picture of the XRP monthly chart. He remarked that an “explosion is coming,” indicating that the price rally will be parabolic. The analyst made this claim while noting that XRP has recorded a perfect retest of both trend lines.
The provided graph indicates that if XRP experiences a price surge, it might reach its all-time high (ATH) of $3.84. This potential increase comes after a prolonged consolidation period of approximately seven years, starting from when XRP last hit its ATH in 2018. The cryptocurrency community has been hopeful for such a price breakout, but it did not materialize during the 2021 bull market rally.
In contrast, the current situation appears distinct due to the recent legal resolution regarding XRP. Specifically, it now holds a non-security classification following the prolonged dispute between Ripple and the U.S. Securities and Exchange Commission (SEC).
Currently, key indicators within the XRP blockchain are showing positive trends and suggest a potential increase in XRP’s price. The number of active addresses on the XRP Ledger has reached its highest point in six months, suggesting a renewed curiosity among cryptocurrency investors towards the coin. Furthermore, there’s been an influx of new investors joining the XRP ecosystem, as the number of new addresses on the network has grown by more than 10%.
As a crypto investor, I’ve noticed an increase in daily transactions on the network, indicating that fellow investors are actively trading with XRP. This surge in activity might be a positive sign contributing to the predicted XRP rally, as suggested by my friend, Random Crypto Pal.
Price Could Reach Triple Digits
Crypto expert Javon Marks has once more expressed confidence that the value of XRP may soar into triple digits when a significant price surge takes place, based on his analysis. In a recent post, he referenced the substantial price increases XRP experienced during the 2017 bull market as evidence supporting this prediction, suggesting a potential value of $200 for the coin.
The chart alongside indicates that the value of XRP could experience a price surge by the end of this year, potentially lasting until the end of 2025, with the crypto reaching approximately $200 around that time. Notably, crypto analyst Dark Defender shares this optimistic outlook, stating in a recent post on X that the XRP bull market is expected to extend from November 2024 to November 2025.
In his observations, Javon Marks points out significant similarities between the current XRP price trend and that of 2017, noting they are “major.” He further adds that this time the scale is larger, implying that if there’s a price breakout, it could potentially yield a more substantial outcome compared to the bull run in 2017.
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2024-10-29 18:04