The XRP community is once again buzzing with excitement, spurred by a recent post from JD (@jaydee_757), a well-known cryptocurrency analyst on X.
JD’s analysis focuses on the upcoming monthly close for XRP and the possibility of a bullish cross-confirmation in August. This has sparked discussions on the potential for significant price movements, reminiscent of past bullish trends.
JD highlights the significance of the current market setup, noting that the RSI, Stoch RSI, and MACD, the three major oscillators, are forming bullish crosses. Historically, similar technical patterns have led to substantial price increases for XRP.
JD references the 2017 bull run where XRP experienced a remarkable 600x increase over a year when these indicators aligned, sending XRP to its all-time high of $3.84.
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Is XRP Going to Surge 600x?
The prospect of XRP recreating the 2017 rally has excited many in the community. However, JD tempers expectations by acknowledging that current market conditions are vastly different from those past instances.
Responding to a query about the feasibility of another 600x increase, JD explains that the market cap was much lower during previous bull runs, making such gains possible. He suggests that in today’s market, a 10x increase is more realistic.
The discussions around XRP’s price potential often center on market cap restrictions. As JD notes, the market cap is significantly higher now than during previous bull runs, which limits the possibility of massive gains like the 600x experienced in the past.
If XRP surges by 600x from its current price of $0.6295, it would climb to $377.7, meaning a market cap of over $21.13 trillion. This price is almost ten times the entire crypto market’s market cap, and many experts don’t see this as feasible.
A user pointed out that the current bull market is distinct from previous ones due to factors such as the involvement of exchange-traded funds (ETFs). However, this user believes XRP will not surge, suggesting the window to profit from XRP has closed.
JD noted that although XRP will not climb 600x in this bull run, a 10x run is possible, and he pointed out to the community member that he had predicted multiple XRP rallies recently, giving users who follow him 4x to 33x surges.
JD’s analysis provides an intriguing perspective on XRP’s prospects. He took a more realistic approach than many, and the 10x surge would send XRP to over $6, a level other prominent analysts have predicted, and far above its all-time high. Additionally, he promised an update if he gets 200 retweets. At press time, he had almost 400, suggesting updated predictions soon.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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