Crypto Analyst Predicts XRP Price Will Rally 800% To $6, Here’s When
26 Março 2024 - 7:00PM
NEWSBTC
The XRP price continues to disappoint investors who expect that it
would’ve crossed $1 by now since Ripple’s battle with the United
States Securities and Exchange Commission (SEC) is nearing its end.
However, this has not discouraged investors and traders who believe
that there are big things in store for the altcoin. Crypto Analyst
Predicts XRP Will Reach $6 Pseudonymous crypto analyst Mikybull has
been bullish on the XRP price for a long time, taking to X
(formerly Twitter) to, once again, reiterate their stance that the
altcoin is going to do well. At the start of March, Mikybull had
put forward an analysis that showed that the XRP price is primed
for an over 800% run. Related Reading: Bitcoin Whales Remove A
Staggering $2.3 Billion From Exchanges, Is It Time To Buy? At the
time, the crypto analyst pointed out that XRP had broken out of a
symmetrical triangle, which is bullish for the price. A similar
breakout had taken place back in 2017 which led to an over 1,000%
increase in the price, and Mikybull references in the analysis.
However, like the rest of the crypto market, XRP ended up dipping
as the Bitcoin price crashed from $73,000 to $61,000. But now that
the market is starting to recover, the crypto analyst believes that
the altcoin is primed for a big move. Over the course of March,
Mikybull has consistently talked about this prediction, especially
as the price retested various resistance points. Then, on Monday,
March 25, the crypto analyst shared another chart showing that the
XRP price has completed its retest and is ready to move upward.
$XRP It has concluded its retest and it’s now preparing for an
explosive upward move🚀 🎯Targets: $1-$6 https://t.co/3Vsr67s32z
pic.twitter.com/Dbdu2kVhpa — Mikybull 🐂Crypto (@MikybullCrypto)
March 25, 2024 Mikybull shared that the targets for this move lie
between $1 and $6, with the upper end of this target being an 833%
move from its current price. When Will The XRP Price Hit This
Target? While Mikybull does not present a particular timeframe in
their analysis, the charts shared provide some insight into when
they expect this move to occur for XRP. Just like in 2017, the
crypto analyst expects the rally to take place in the same year as
the breakout from the symmetrical triangle, which means it could
happen this year. Related Reading: Bitcoin To $50,000 Or $80,000?
Crypto Expert Predicts Where Price Is Headed Next The breakout
could happen toward the middle of the year and this would mean that
it would happen after the Bitcoin halving is completed. This is not
surprising given that the Bitcoin halving is regarded as the
ultimate bull signal and altcoins rally once Bitcoin’s price picks
up. Presently, the XRP price is showing a lot of strength after
rallying 11.73% in the last week. It is currently trading at $0.648
at the time of writing, with a market cap of $35.5 billion, which
makes its the 6th-largest cryptocurrency by market cap. Token price
trending at $0.64 | Source: XRPUSDT on Tradingview.com Featured
image from Bitcoinist, chart from Tradingview.com
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