Crypto Analyst Predicts XRP Price To Break Out Of Bull Pattern, Here Are The Targets
March 06 2024 - 4:00PM
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Crypto analyst World of Charts mentioned that the XRP price is set
to experience a significant breakout, which means that the crypto
token could soon make a run of its own. Based on the analyst’s
prediction, XRP could see its price triple when that happens. How
XRP Price Could Rise To $3 As highlighted by World of Charts, XRP
has experienced a “very long consolidation of “symmetrical
triangle“, but that could change as the 3-day timeframe suggests
that a breakout will occur soon enough. The analyst predicts that
XRP will rise to as high as $3 when this breakout
happens. Related Reading: The Ethereum Foundation Is
Selling ETH Again, Is The Top In? This isn’t the only indicator
painting a bullish narrative for the crypto token, as crypto
analyst Jaydee recently revealed that XRP had broken out of a
six-year trendline. Interestingly, the analyst also hinted that XRP
would hit $3 with this breakout occurring. Meanwhile, these
predictions have undoubtedly revived the bullish sentiment on the
crypto token. XRP hitting $3 is possible, considering that its
all-time high (ATH) stands at $3.80. Bitcoin hitting a new ATH also
paves the way for altcoins to make a run of theirs and surpass
their current ATH. XRP also looks long overdue for a new ATH
since its ATH came in 2018. The crypto token didn’t see any
significant gains in the 2021 bull run, possibly due to the
regulatory uncertainty, which made it less attractive to investors.
Having now achieved legal clarity, XRP looks set to make a comeback
in this market cycle. Another Bullish Indicator For XRP
Crypto analyst Egrag Crypto recently highlighted XRP’s three-month
chart and noted it was very bullish for the crypto token. He laid
out a scenario where XRP could rise to “double digits in no time
and three digits” at the peak of this bull run. In the accompanying
chart he shared, Egrag hinted at XRP hitting $27 and eventually
rising to $107. Related Reading: Dogecoin Open Interest
Surges To Record $1.49 Billion The $27 mark is one target the
crypto analyst has mentioned at different times as his peak XRP
price prediction for this market cycle. However, the $107 mark is a
new development and will definitely catch the XRP community’s
attention. Meanwhile, Egrag added that buying below the $1
mark will soon be a dream, and those who bought below $0.50 will
“be seen as GODS in the future.” He had previously suggested that
XRP would not go below the $1 again once it breaks that resistance
level. At the time of writing, XRP is trading at around
$0.60, down over 5% in the last 24 hours, according to data from
CoinMarketCap. XRP price falls to $0.59 | Source: XRPUSD on
Tradingview.com Featured image from Watcher Guru, chart from
Tradingview.com
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