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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.
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.
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
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
