Following a significant drop in mid-December, XRP is showing signs of a strong resurgence based on technical analysis, suggesting further growth potential. At around $3.23, XRP stands among the top performers in the crypto market, having experienced an impressive 43% increase over the last month.
The surge in prices has pushed the second-largest cryptocurrency to reach a seven-year peak, nearly touching its old record of $3.40, which it had reached back in 2018.
Bullish Projections For XRP Price
On the platform that used to be known as Twitter, financial expert Ali Martinez recently drew attention to the importance of XRP’s recent escape from a 30-day period of fluctuation, which kept its price within the range of $1.90 and $2.60.
Martinez points out that the price surge happened inside a symmetric triangle structure visible on the weekly graph of the altcoin, which hints at a potentially positive trend ahead for this digital currency.
According to the analyst’s predictions, XRP could potentially reach a price of $15, marking an impressive surge of more than 365% above its current value.
Backing this optimistic perspective, XForceGlobal has suggested various ultimate targets for XRP, predicting possible prices ranging from $7 to $12. They also offer more aggressive forecasts, projecting values between $20 and $40. Two plausible paths for the altcoin’s price movement are also proposed according to their analysis.
- Slower Route: This scenario anticipates a five-wave minor degree into an intermediate degree wave, followed by a wave 1-2 pullback.
If XRP successfully navigates a steady retreat during this stage, it could set up a advantageous situation for more positive price movements ahead. This path might require a larger dip, but the analyst believes it will eventually yield the highest returns for those who invest for the long term.
- Faster Route: In this scenario, the current five-wave ascent may already be part of a larger primary wave 5. While this route could still lead XRP to significant price levels around $7 to $12, it also suggests that the bull market may soon reach its conclusion.
Expert Warns Of Potential Correction March
Although some analysts, such as Egrag Crypto, are optimistic about future trends, they urge investors to stay alert since Egrag anticipates a potential major market correction happening in March 2025.
Nevertheless, the expert underscores the fact that the Relative Strength Index (RSI) continues to be optimistic towards XRP, suggesting it could experience further growth in the near future. He predicts that XRP might climb to prices ranging from $4 to $5 before any potential decline occurs.
Across the board, XRP finds itself at a critical juncture, and its path forward may significantly shape its market position. Regardless of whether it takes a more gradual or rapid approach, the outlook appears promising for XRP investors, as long as they handle the anticipated market volatility with caution.
Currently, as I type this, the value of that particular altcoin has decreased by about 1.3% over the past 24 hours, and it’s being traded at $3.23.
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2025-01-19 06:05