After prolonged market corrections, XRP has shown signs of recovery, garnering attention from analysts who foresee significant price appreciation. One such analyst, JD (@jaydee_757), has identified a technical indicator suggesting a potential surge similar to XRP’s historical performance in 2017.
Following a period of bearish sentiment, XRP experienced a 7.11% price increase within the past week, sending it to its current price of $0.5488 and seemingly aligning with the broader cryptocurrency market’s upward trajectory. However, JD predicts a scenario where XRP outperforms its peers, potentially achieving a remarkable 65,000 increase.
#XRP – Remove all the "wicks/noise" & focus on the Line chart
Present day resembles 2017 before the 650x!
1. Both w/in a symmetrical pattern
2. Both w/Hidden Bullish Divergence
3. "Dumb Money" capitulated in 2017 before 📈🚀😂🤣RT/Like for UPDATES!https://t.co/oe9M18jyuu
— JD 🇵🇭 (@jaydee_757) February 14, 2024
Read Also: Crypto Community with 82% Historical Accuracy Sets 76% XRP Price Jump for March 2022
In a recent analysis published on TradingView, the analyst highlights a hidden bullish divergence in XRP’s chart, which bears a resemblance to a similar pattern observed in 2017. During that period, XRP initially lagged behind other cryptocurrencies in terms of gains but subsequently experienced a meteoric rise, culminating in an all-time high of $3.84 in January 2018.
Notably, XRP’s current technical setup, including the presence of a bullish divergence and price action within a symmetric triangle, closely mirrors the 2017 pattern. Should historical trends prove relevant, a similar 650x surge could be on the horizon for XRP, potentially sending the digital asset to $356.72.
Is an XRP 65,000% Price Jump Realistic?
While JD’s analysis paints a potentially lucrative picture for XRP investors, seasoned market participants might view a 65,000% increase as improbable, particularly in the near term.
Achieving such a price point would translate to a market capitalization of $1.94 trillion, surpassing the current valuation of the entire cryptocurrency market, considering XRP’s current circulating supply of 54.5 billion coins.
However, another analyst recently argued that the market cap was not a limiting factor for the growth of a cryptocurrency. Although this argument was made in favor of Shiba Inu (SHIB), the same applies to XRP.
Read Also: Google Bard Predicts When XRP Price Will Hit $5, $20, and $50
JD’s analysis suggests ample room for XRP’s growth. Historical observations provide evidence that significant upside potential exists for the digital token, and without the growing market cap limiting it, XRP could become the best performer in the 2024 bull run.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
XRP’s Future
JD’s analysis presents an intriguing perspective on XRP’s price trajectory, suggesting that the hidden bullish divergence could propel the cryptocurrency toward substantial gains.
Meanwhile, another XRP analyst recently analyzed XRP’s trajectory now that Bitcoin has surpassed $50,000. These predictions contribute to the ongoing conversation surrounding XRP’s potential for a massive surge and help reinforce the bullish sentiment around the digital asset.
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