Emily Walker
After a significant surge in XRP’s value, the optimism within the community about its future growth is on the rise. This is reflected in various positive forecasts from cryptocurrency analysts regarding its potential to reach new heights, possibly setting a new all-time record in this market cycle.
Comparing XRP’s Recent Trend with Historical Patterns
With XRP’s impressive price increase in recent days, many are speculating about its future movements. Market expert Master Kenobi has shared his observations, indicating that XRP’s current trajectory may be reminiscent of past patterns that led to its peak price.
Upon reviewing XRP’s weekly chart for insights on its future behavior, Master Kenobi noted that the asset began its upward trend approximately 204 days after the Bitcoin Halving event during this cycle. In contrast, the previous two cycles saw a lag of about 224 days before XRP experienced a notable increase, supporting his assessment of current market dynamics.
Therefore, he suggests that XRP’s current price fluctuations align more closely with the preceding bull market rather than the most recent one, indicating the potential for another rally to a new all-time high. “This offers a compelling basis for predicting a similar path ahead,” he remarked.
By focusing primarily on historical patterns rather than the latest cycle, Master Kenobi identified several pivotal factors signifying that the current movement is progressing through three distinct phases.
In the first phase, he cautioned about a potential price dip soon, possibly dropping to $1.39 after the recent significant rise. For the second phase, he anticipates a fresh rally following this correction, which might occur upon interacting with the indicated white trendline on his chart, potentially elevating XRP’s value to $8.1.
Lastly, once it achieves the $8.1 mark, the final phase is expected to involve a prolonged period of consolidation before a final surge in the next 200 days, possibly nearing the $11 level by mid-October next year.
Is a New High in Sight During This Cycle?
The confidence in XRP remains robust among the cryptocurrency community. Analyst Jack The Ripper has shown strong enthusiasm for the coin, predicting that it could reach at least $10 by 2025.
While Jack The Ripper believes this target will be hit by 2025, another analyst, KingXR,P asserts that the price could reach $10 within just two days if it breaks out from a bullish triangle pattern. More broadly, this analyst envisions XRP potentially soaring to $54 in the near future.