Just a few days ago, Ripple’s cross-border token jumped to a multi-month high of around $1.70 but later retreated to the current 1.42.
The move south hasn’t changed the predominant bullish tone across analysts on X, as some expect a price explosion in the near future. Here are some of the most optimistic (and even ridiculous) targets.
Giant Surge on the Way?
X user JAVON MARKS, who bragged about successfully calling XRP’s bull run in the past, returned with another big prediction. The analyst claimed that the asset’s current structure is showing signs of a breakout from a smaller bullish wedge/flag formation, which could initiate a major continuation above the all-time high and open the door to a rally towards $15. The market observer said this is “a measured-move target” and reminded of what happened nine years ago.
“After breaking out of a much larger structure in 2017, XRP reached a similar measured-move objective before going on to greatly exceed it. Today, XRP is holding a breakout of an extremely similar larger structure,” they stated.
The analyst believes that if the ongoing structure holds and the smaller formation confirms its breakout, the asset’s valuation could indeed rocket to the aforementioned peak, representing a nearly 1,000% increase from current levels.
Amonyx is also highly optimistic, envisioning a pump to $20 and “there’s nothing anyone can do about it.” It is important to note that such an astronomical surge would require XRP’s market cap to jump beyond $1 trillion. As of press time, only the market’s undisputed leader, Bitcoin (BTC), has a higher market capitalization, making the forecast a bit far-fetched (to say the least).
$15 and $20 may sound like implausible targets (for the moment), but Ripple’s token may indeed head north in the short term, considering the solid institutional interest. Last week, spot XRP ETFs saw their best week since May, while the positive performance continued. Data show that these products have posted eight consecutive green days; the last time this was observed was at the very start of the year.
Major Walls Ahead
According to X user CW, the bulls might struggle to initiate a new leg up since the sell wall near $1.49 “remains solid.” Shortly after, the analyst claimed that XRP failed to break through the “point of control” once again, arguing that the biggest resistance blocked the rise.
“$1.4692 and $1.53 are currently the biggest resistance levels. To rise, these two lines must be broken,” they added.
The post Crazy Ripple Prediction: Is XRP Preparing for a 1,000% Explosion? appeared first on CryptoPotato.
Source: https://cryptopotato.com/crazy-ripple-prediction-is-xrp-preparing-for-a-1000-explosion/
