Crypto Analysts Are Giga-Bullish On XRP Price, Set Multiple Price Targets
23 Fevereiro 2024 - 6:00PM
NEWSBTC
Crypto analysts are currently optimistic about the XRP price
trajectory in the coming months, setting different price targets,
with some of them more bullish than others. XRP, like most top
cryptocurrencies, is always subject to price predictions from
analysts as the entire crypto market continues to anticipate the
resumption of a market-wide rally. Consequently, experts on
social media are calling for some pretty wild price targets for XRP
if the bull run kicks back into gear. Other market factors, like
the possibility of an XRP ETF, are also bound to come into play in
the quest for a price rally. Crypto Analysts Remain Bullish On XRP
Despite Price Consolidation XRP has been on price decline since the
beginning of the year. At the time of writing, the XRP price is
trading at $0.5375, down 14% from the $0.625 level in early
January. Notably, price movement recently went on a surge at the
beginning of February as the broader cryptocurrency market
witnessed inflows spearheaded by Bitcoin. As a result, XRP climbed
to the $0.57 price level on February 15. Related Reading:
Fundstrat Exec Predicts Bitcoin Will Reach $150,000, Here’s When
Despite the ongoing consolidation and lackluster price action,
crypto analyst EGRAG CRYPTO has predicted a $1.4 XRP price target
in the coming months. The analyst, known for his strong positive
stance on XRP, made this prediction while looking at the wicking,
ranging, consolidation, and bullish stages of XRP. According to a
color-coded price chart shared on social media by EGRAG, XRP is
currently in the wicking stage. XRP recently closed above a
long-term support level of $0.5141 at the top end of the red flag
stage. Consequently, we could see XRP passing through into the
bullish stage and $1.4 in the coming months. It’s worth
noting that the $1.4 price point coincides with a 1.618 Fib
extension from $0.3536. EGRAG had noted in the past that XRP
reaching $1.4 would set the stage for a progression to $5. Related
Reading: Elliot Wave Theory Predicts Bitcoin Bottom And Top, Here
Are The Targets Dark Defender, another crypto analyst, used the
wave strategy to predict various bullish price points. According to
a social media post, XRP could continue the current downturn until
it reaches the end point of a wave 2 correction between $0.5198 and
$0.5066. Subsequent waves 3, 4, and 5 formations would then see XRP
tearing past $0.6649, $0.7707, and $0.9191. Analyst Dr.
Profit also noted the potential of inflows rushing into XRP in the
next 30 to 60 days. The analyst divulged that he bought 500,000
recently while calling XRP the “next shining bull.” In the spirit
of bullish countenance, a popular Bitcoin day trader recently
disclosed that his father sold his house for $800,000 and allocated
the proceeds to purchase XRP. Although this might seem very daring
and unbelievable, it emphasizes the vast amount of optimism among
some XRP investors. XRP rises to $0.53 | Source: XRPUSD on
Tradingview.com Featured image from CryptoRankl, chart from
Tradingview.com
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