XRP Price Explosion Above $3 Is A Matter Of When, Not If: Analyst Reveals Timeline
30 Oktober 2024 - 8:00PM
NEWSBTC
A crypto analyst has made a bold prediction about the XRP price,
highlighting that an explosive rise above $3 is not a matter of if
but when. While XRP’s slow price growth over the years has tested
the patience of many investors, the analyst is confident that the
cryptocurrency’s fundamentals and market dynamics are aligning for
a significant upward movement. Timeline For XRP Price
Surge Above $3 Popular crypto analyst Javon Marks has expressed
optimism about the future outlook of the XRP price, predicting that
the prominent cryptocurrency could be on the verge of a significant
rally above the $3 mark. In an X (formerly Twitter) post on
Tuesday, Marks revealed that the recent XRP price action indicated
a “massive bullish breakout” to the upside. Related Reading:
Bitcoin Price Breaks Out Of 7-Month Descending Broadening Wedge
Pattern For Continuation Above $70,000 The analyst suggested that
this upward momentum could happen very soon, implying that all the
conditions and signs were pointing towards a substantial price
shift for XRP in the future. Sharing a detailed chart of
XRP’s historical price movements, Marks noted that the
cryptocurrency had formed a distinct triangle pattern, starting in
2014 and peaking in 2017. After breaking out of the triangle
pattern in 2017, XRP experienced a dramatic price surge, reaching
new highs before recording a short dip and then rallying again to
its current all-time high of $3.84 in 2018. Based on Mark’s
price chart, XRP has formed another similar triangle pattern, which
started around 2018 and is projected to peak in 2025. Marks pointed
out that breaking out of this triangle pattern could trigger a
massive increase in the XRP price, potentially pushing the
cryptocurrency to new highs around $3.6 by 2025. Price
Remains Stagnant While Other Cryptocurrencies Rally Despite the
optimistic price projections for the XRP price, the cryptocurrency
has been facing immense downward pressure for the past few months.
While other cryptocurrencies like Bitcoin, Ethereum, and most meme
coins have been experiencing significant price gains amidst the
positive shift in market conditions, XRP price has struggled to
build momentum. Related Reading: Dogecoin Price Is About To
Complete This Breakout To A Descending Megaphone Pattern, Is $1
Next? Data from CoinMarketCap has revealed that XRP is currently
trading at around $0.5, recording significant declines, much to the
frustration of long-time XRP holders and investors. While Bitcoin
has skyrocketed to $72,000, Ethereum to $2,670, and Shiba Inu to
$0.0000188, XRP has declined by 0.37% in the last 24 hours and
decreased by 18.61% over the past month. Currently, XRP is being
cited as one of the worst-performing assets in the crypto space, as
its price has failed to break beyond the $1 mark since February
2022. This bearish price trend and slow momentum could be
attributed to XRP’s bearish market sentiment and the ongoing legal
battles between Ripple Labs and the United States Securities and
Exchange Commission (SEC). Featured image created with
Dall.E, chart from Tradingview.com
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