Analyst Predicts 72,500% XRP Rocket Price Rally After Spotting This Bullish Flag

Steph Is Crypto (@Steph_iscrypto), a cryptocurrency analyst, recently shared a bold projection regarding XRP’s future price. Posting a chart on X, the analyst suggested that the digital asset could reach an astonishing $1,452.81.

The chart highlights a bull flag pattern, a technical formation often associated with continued upward momentum after consolidation.

The Bull Flag Formation and Its Implications

The chart shared by Steph illustrates a prolonged consolidation phase following a strong upward price movement. This pattern, referred to as a bull flag, is characterized by a steep price surge (the flagpole) followed by a rectangular consolidation period (the flag). Technical analysts often interpret this formation as a sign of a potential breakout, leading to another significant price increase.

The chart marks XRP’s price movement over the past several years, showing its rise in 2017 to its all-time high in early 2018. This remarkable rally formed the flagpole, and the asset experienced a multi-year consolidation after this, trading within a downward-sloping channel that formed the flag.

According to the analyst, the breakout from this formation signals the start of an aggressive price surge. The digital asset’s recent price surge, which began in November after former SEC Chair Gary Gensler announced his resignation, caused its price to break out of this 7-year flag, beginning its journey to $1,452.81.

A Lofty XRP Price Target

Steph’s projection of $1,452.81 per XRP is significantly higher than its all-time high of around $3.84, recorded in early 2018. While some traders view the bull flag breakout as a bullish indicator, the magnitude of this price target raises skepticism.

The digital asset is currently trading at $2.3, and a climb to Steph’s target would require a surge of over 63,000%. XRP’s market capitalization would need unprecedented levels to support such a valuation.

While many in the community see this as a barrier, some experts have shown that the market cap problem is a myth and won’t hinder the digital asset’s growth.

Market Factors and Expectations

While technical analysis can provide insights into potential price movements, broader market factors help determine XRP’s trajectory.

The recent dismissal of the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has excited the community, as many experts expect this move to give the asset a significant boost.

While a four-digit target is ambitious, the digital asset is in a good position to experience this massive surge, and the end of the lawsuit makes it more realistic.

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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