XRP could well be on its way to having a significant price surge, as this crypto expert recently highlighted an indicator that suggests this is on the horizon. This will undoubtedly be a welcome development for the XRP community that, as of late been bewildered by XRP’s price action.
XRP Forming A Bullish Pattern On The Charts
In a post shared on his X (formerly Twitter) platform, crypto researcher ABS of the 3T Warrior Academy highlighted the fact that XRP could be forming the largest bull flag in crypto history. This speculation was based on a monthly chart that he shared. From the chart, one could see that XRP was indeed forming a bull flag, which instantly signals a bullish sentiment.
The crypto expert further went on to note how XRP has been trading below its all-time high (ATH) of $3.8 for “2,165 days & counting.” He alluded to the fact that this could have been a result of the label of “unregistered security,” which the SEC had put on it.
However, Abs is bullish on XRP as he stated that there are “brighter days ahead” for the crypto token, considering that it has managed to get rid of the label and gained regulatory clarity. Another crypto analyst had also recently highlighted a similar pattern on the charts as he noted that the altcoin was forming a bull flag that could send its price to $25.
Many in the community seem to share this analyst’s sentiment as regards the price prediction. Abs had put out a poll under his initial post asking his followers what they think would be XRP’s peak price target when the breakout occurs. The majority of those who voted were of the opinion that XRP will be greater than $22.35 when the anticipated breakout occurs.
Token price recovers to $0.62 | Source: XRPUSD On Tradingview.com
Patience Is Key
Crypto analyst Egrag Crypto stated that patience is key as the XRP community awaits a significant rally from the crypto token. He made this comment while sharing an accompanying chart that indicates the future trajectory of XRP. From the chart, one could see that the analyst is predicting XRP’s long-awaited price surge to come in 2024.
Source: X
Based on his projection, XRP would rise to over $1.50 sometime between February and March 2024. He expects that XRP will experience a significant decline soon after, with the crypto token dropping to $0.7. However, the community will once again have reason to smile as the token will rise “to Valhalla” from that point on. Egrag predicts that will happen in June 2024.
At the time of writing, XRP is trading at around $0.62, up over 3% in the last 24 hours, according to data from CoinMarketCap.
Featured image from CoinCodex, 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.
Credit: Source link
