XRP Price On Its Way To $10 In Only 3 Months If It Follows This Pattern
23 Décembre 2024 - 9:00AM
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The XRP price has continued its steep correction into the past 24
hours, with it currently hovering around the $2.2 price level.
Nonetheless, analysts are still concerned about the possibility of
the XRP price reaching new highs sooner than later, with some
giving projections into the two-digit threshold at $10 and beyond.
Interestingly, crypto analyst Cryptoinsightuk recently shared his
thoughts on social media platform X, drawing attention to a
potential roadmap for XRP to achieve this ambitious target.
Mirroring The 2017 XRP Price Pattern Cryptoinsightuk has brought a
compelling perspective to the ongoing XRP price correction and its
previous rally, highlighting how its current trajectory resembles
the movement it experienced in 2017. Back then, XRP consolidated a
little bit in early 2017 before undergoing a powerful rally that
extended into 2018. Related Reading: XRP Battles Critical $2.20
Support Level — Will It Target $2.70 Or Slip To $1.96? With this in
mind, technical analysis from Cryptoinsightuk adjusted the price
action at that time to size in relation to XRP’s previous breakout
in early October. According to this, if XRP continues to follow the
2017 pattern, the cryptocurrency could replicate this crazy move
throughout 2025. Interestingly, the analyst’s overlay of the 2017
price action suggested that the XRP’s 460% price breakout from its
early October range of $0.5 is already halfway into replicating
this movement. If this were to continue playing out this way, the
analyst expects XRP to break above $10 in the first quarter of
2025. However, Cryptoinsightuk’s projections extend beyond
this initial $10 target in Q1 2025. If XRP’s price continues to
mimic the historic movement beyond the first quarter, the analyst
envisions what he describes as a “moon boy blow-off top.” This
phase, which is characterized by a larger parabolic surge in price,
could push XRP as high as $35 by the third or fourth quarter of
2025. Factors To Push XRP’s Bullish Trajectory CryptoinsightUK’s
bullish outlook on XRP hinges on the cryptocurrency’s ability to
replicate its 2017 movement. Back then, the parabolic surge saw XRP
go from below $0.0060 until it reached its current all-time high of
$3.40. Punching in the numbers, this comes up to around 56,000%
gain over 12 months or so. Related Reading: Bitcoin $178K Target In
Sight? Analyst Highlights Bollinger Band Retest Mirroring Jan. 2024
Rally While XRP is currently in a positive market sentiment to
continue a strong bullish move, market conditions in 2024 are
different from those in 2017. Furthermore, the amount of inflow
capital needed to reach $10 or $35 at this point would be far
greater than what it took to reach $3.4 in 2018. However,
increased institutional involvement and factors like political and
expected regulatory positivity in 2025 suggest that the XRP price
could nonetheless go on a comparable surge. Additionally, broader
crypto market trends, such as Bitcoin’s performance, could
contribute to the predicted XRP price surge. At the time of
writing, XRP is trading at $2.18. Reaching the $10 and $35 price
targets would translate to a 358% and 1,505% move, respectively.
Featured image created with Dall.E, chart from Tradingview.com
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