Although there have been recent drops and fluctuations, an analyst specializing in cryptos predicts that the value of XRP is about to burst through a bullish flag pattern. This potential breakout, as suggested by the analyst, could lead to a substantial increase of up to 50% for XRP, moving it closer to its earlier peak record of $3.84, a level it reached during the 2021 market surge.
XRP Price Targets $3.6 After Bullish Flag Breakout
Over the last several weeks, the price of XRP has been shaping a bullish flag pattern, suggesting it may continue to rise. As per Captain Faibik’s recent chart posted on platform X (previously Twitter), XRP seems poised to burst out of this bullish flag on its daily chart.
A bullish flag, commonly known as a continuation pattern, emerges when a cryptocurrency’s price fluctuates horizontally or experiences a pullback. This pattern suggests that a significant increase in value may be on the horizon.
According to the analyst’s graph, XRP is attempting to surpass the upper limit of a bullish flag formation, which could lead to a new surge in its price if successful. Captain Faibik anticipates that such a breakout and sustained price level above the bullish flag could initiate a significant 50.22% price increase.
At its current value of $2.2, if XRP experiences a 50% surge due to its bullish flag breakout, its price could potentially soar to approximately $3.3. This projected peak is just about 16.36% from surpassing XRP’s all-time high (ATH) of $3.84, a level it reached during the 2021 bull market.
Enhancing his conviction about the potential rise of XRP’s value, Captain Faibik’s latest forecast reinforces his earlier predictions made in previous X-related posts. In these new projections, he anticipates a significant surge in the price of XRP, reaching approximately $3.66.
Elliott Waves To Push XRP Above $20
In a previous post, a well-known crypto expert known as “CryptoBull” forecasted that the price of XRP might exceed $20 during this ongoing bull market. Yet, he also anticipates a temporary peak at around $13 in the coming weeks.
CryptoBull’s positive predictions for XRP are grounded in Elliott impulse waves, which he emphasizes have significantly influenced the digital currency’s past price trends. This analyst explained that Elliott impulse waves usually follow a substantial price surge in a cryptocurrency.
In 2017, a sequence of five waves within the Elliott impulse wave pattern led to an astounding 70,000% jump in price from $0.002 to $3.84. Using this pattern as a guide, CryptoBull predicts that XRP might experience a comparable bull run. His prediction suggests that the five Elliott impulse waves could ignite a 6,000% increase in the XRP price during the current bull market, potentially taking it to new all-time highs of $26.
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2025-01-09 03:04