Cryptocurrency

Analyst Sees XRP Price Rising 6x this Bull Cycle

The cryptocurrency market has experienced significant volatility in recent months, with prices of various cryptocurrencies dropping considerably. XRP was not spared in this market-wide downturn, showing a decline of 10.39% over the past month.

This has led some investors to question whether the anticipated bull run has ended and if the crypto market can recover. However, veteran crypto traders remain optimistic, outlining potential price increases for XRP in the coming months.

Prominent Crypto Analyst Predicts 600% Surge for XRP

Altcoin Moe (@AltcoinMoe), a well-known crypto trader who has been trading full-time since 2014, recently shared his analysis, categorizing cryptocurrencies based on perceived risk and potential returns during a bull run.

Intriguingly, he placed XRP in the “intermediate investment” category, with a projected 6x return on investment (ROI) during a bull market. This target translates to a potential price surge of 600%, which could propel XRP to $3.3054 from its current price of $0.4722.

While this would not surpass its all-time high of $3.84 set in January 2018, it represents a significant increase. Notably, Altcoin Moe suggests this prediction could materialize within the next few months.

To show his confidence in his predictions, he asked users to save the post and come back in a few months to confirm his predictions. However, he did not provide a specific target.

Although the analyst did not place XRP in the super safe category, he specified that the investment opportunities in the intermediate category offer good rewards for the level of risk.

Experts Reinforce XRP Bullish Outlook

Altcoin Moe is not alone in his bullish outlook for XRP. Several other crypto analysts have made positive predictions. JD (@jaydee_757), a well-known analyst on X, recently showed how XRP could surge to $7.5 based on a symmetrical triangle formation. XRP formed a similar triangle before its surge to its all-time high, and the analyst has shown that XRP is forming a similar triangle.

EGRAG CRYPTO (@egragcrypto), another prominent crypto analyst on X, recently predicted that XRP’s market cap will climb to $1.7 trillion. This remarkable market cap will mean an asset price of over $30, around 10x Altcoin Moe’s price target.

While the future trajectory of XRP remains uncertain, the predictions from experienced traders and analysts suggest potential for substantial growth in the coming months.

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. Times Tabloid is not responsible for any financial losses.


Follow us on Twitter, Facebook, Telegram, and Google News

Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.

Recent Posts

Top 5 Cryptocurrencies to Invest in Now: October 2024

The blockchain ecosystem continues to evolve, driven by the need for enhanced security, scalability, and…

2 hours ago

Stellar May Soon Head for a Price Bloodbath while Ethereum Foundation Holds Steady; Will BlockDAG’s New 100% Bonus Save the Day?

Prices crashing, gains evaporating—Stellar’s (XLM) price analysis this year paints an alarming picture. Investors have…

2 hours ago

Plus Wallet Strengthens Its Position as a Leading Decentralized Wallet! OKX Grows & ETH Blob Fees Soars

Recent updates in the crypto world showcase notable advancements across platforms and technologies. Ethereum blob…

3 hours ago

Plus Wallet Leads with 15-Minute Token Listings! Apillon Launch & U.S. Government Crypto Wallet Hack Update

Many investors are increasingly turning to cryptocurrency for its substantial profit potential. However, for those…

4 hours ago

Crypto Price Prediction October 2024: Analyst Forecasts 100% Pump For Dogecoin, 10,000% Rally For ETFS, And Only 30% For XRP

As we approach the bull run, the cryptocurrency market is buzzing with predictions and potential.…

4 hours ago

Plus Wallet Gains Popularity as Daily Rewards Demand Increases; Insights on Crypto Staking & Binance Web3 Wallet

The appetite for daily reward programs is reshaping the cryptocurrency landscape. Observations indicate a rise…

5 hours ago