Analyst Jonathan Carter forecasts a potential increase in the XRP price to reach $1.68. However, certain conditions must be met for this cryptocurrency token to achieve such a milestone.
Factors Driving XRP Price to $1.68
Carter highlighted in a post on X that the XRP price was bouncing off the lower trendline of a symmetrical triangle on the weekly chart. He suggested that a successful breakout above the triangle would indicate a bullish trend for the crypto token, setting $0.93 and $1.68 as mid-term targets if this scenario unfolds.
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Similar to the general crypto market, XRP is currently in a downtrend. Carter’s prediction provides optimism that the crypto token could soon experience a reversal in its trend. Another crypto analyst, XRP Captain, shared a post suggesting an imminent XRP breakout.
Like Jonathan Carter, XRP Captain also pointed out a symmetrical triangle on XRP’s chart. XRP Captain projected a higher price target for XRP, hinting that the cryptocurrency could surpass $2.6. Fellow analyst Jaydee supported this forecast and mentioned, “It’s coming! Glad we loaded up heavily at 0.44 and 0.50! Zero emotions!”
Jaydee had previously predicted that XRP will lead to “life-changing gains for the 5% (smart money) once we bounce off the 7-year trendline.” He highlighted a hidden bullish divergence in the accompanying chart related to the crypto token.
Potential Rise of XRP to Double Digits
Analyst Egrag Crypto recently suggested that the XRP price might escalate to double digits soon. He mentioned a potential “mini pump to $1.5 and major pump to $5.89” with the likelihood of XRP’s price surpassing double digits due to a macro pump.
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After analyzing the charts, Egrag outlined two scenarios for XRP’s parabolic surge. If XRP follows the white triangle pattern, it could break out upwards and potentially reach $1.5. This could trigger a significant macro breakout aligned around Fib 0.786.
Alternatively, XRP following the blue triangle path could drive the crypto token towards $5.89, coinciding with Fib 1.618, according to Egrag.
Based on CoinMarketCap data, XRP is currently trading at about $0.51, having decreased by over 2% in the last 24 hours.
