In the crypto world, speculation runs rife, and Ripple’s XRP is no exception. With XRP’s recent price surge, some analysts are raising eyebrows and contemplating the possibility of a substantial upswing soon.
Cryptoinsightuk (@Cryptoinsightuk), a prominent crypto analyst on X, has shared his insight, which hinges on a compelling observation of XRP’s past behavior. Based on XRP’s price movements in 2017, he suggests that a significant price surge to $6.8-10 within the next month could be on the horizon.
$XRP Blast off in T-8 days.
Could we be about to go parabolic on $XRP?
On a weekly timeframe, if we look back to 2017, we can see $XRP moves between 1,000%-1485% (within 3 weeks) when it enters the overbought area on the RSI.
We currently have some space to push before we hit… pic.twitter.com/5Kj5p8QnUC
— Cryptoinsightuk (@Cryptoinsightuk) November 6, 2023
Read Also: XRP Price Abruptly Surged To $247 On CryptoCom Exchange, Sparking Speculation Among Pundits
Cryptoinsightuk explained his reasoning, pointing out that XRP has shown a tendency to make explosive moves when it enters the overbought area on the RSI.
Although there is room for the price to rise before hitting that threshold (around $0.90-$1.00), the possibility of a launchpad effect seems plausible. If history repeats itself, XRP’s price could witness a meteoric rise in the short term.
While this prediction may appear ambitious, Cryptoinsightuk highlights the long accumulation phase XRP has undergone over the past five years. Missing out on an entire bull cycle, XRP could be poised for rapid gains if history is any indicator.
Contrasting Views
Joining the chorus of price predictions are two other notable crypto analysts: CrediBULL Crypto (@CredibleCrypto) and Dark Defender (@DefendDark).
CrediBULL Crypto’s forecast takes a more conservative approach, envisioning XRP rising to $0.90 during the summer of 2024. This prediction depends on XRP maintaining a stronghold above the $0.40-$0.50 resistance level.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: XRP Price Abruptly Surged To $5,791 On Binance. Pundits Speculate On Likely Cause
In contrast, Dark Defender adopts a more bullish stance. He believes that XRP could continue to soar, potentially surpassing $18, but this hinges on the asset overcoming the critical $1.88 Fibonacci target.
While these analyses and predictions provide intriguing insights into XRP’s potential, it’s essential to remember that the cryptocurrency market is highly speculative and volatile. The future of XRP remains uncertain, and investors should exercise caution and conduct their research before making any financial decisions.
With Ripple Swell around the corner, Ripple CEO Brad Garlinghouse recently shared a teaser that got the community riled up with excitement, which could also affect XRP’s price. XRP enthusiasts are eagerly waiting to see what the digital asset does next as the days pass. Only time will tell if these predictions will turn into reality.
Follow us on Twitter, Facebook, Telegram, and Google News
