Analyst Spots 700x Rally Potential On XRP Monthly Timeframe

A recent analysis by TradingView chartist Heikin Ashi suggests that XRP might be on the cusp of a significant bull run, potentially reaching $305 by 2026. This prediction stems from an observed resemblance between XRP’s current monthly candlestick patterns and historical trends that preceded substantial price increases.

While XRP’s current performance paints a bleak picture, with prices reaching lows not seen in over a year (nearly 13% decline in the last month alone), Ashi’s analysis identifies potential reasons for optimism. He argues that XRP’s present trajectory aligns with historical patterns that were subsequently followed by significant price surges.

Read Also: Analyst Predicts 94% XRP Price Surge to $1.2. Here’s the Timeline

XRP’s Historical Performance: A Potential Indicator?

Ashi’s analysis hinges on XRP’s historical behavior in the monthly time frame. He identified two specific instances where extended downtrends were followed by substantial price rallies.

The first instance occurred between 2014 and 2015. During this period, XRP’s price, which began with two leading zeros in mid-2014, plunged to around $0.003 before experiencing a tenfold increase to roughly $0.025 by the start of 2015.

A similar pattern emerged between 2016 and 2017. After trading with two leading zeros yet again, XRP underwent a brief price increase followed by a dramatic surge in the final quarter of 2017.

Notably, Ashi’s chart highlights the formation of a symmetrical triangle on the monthly chart between XRP’s 2014 bottom and the subsequent peak before the 2017 decline. This triangle preceded the aggressive price surge that propelled XRP to its all-time high of $3.84 in January 2018, a staggering increase of over 75,000%.

Following the 2018 peak, XRP entered a downtrend, reaching a low of $0.14 in early 2020. The 2021 bull run witnessed a temporary recovery, with XRP reaching $1.96 in April. However, the subsequent bear market forced the price back to around $0.30 by late 2020.

Interestingly, XRP’s monthly chart reveals another symmetrical triangle between the 2020 and 2023 lows, with the 2021 price increase as the apex. Ashi contends that this recurring pattern signifies a potential for another significant price surge.

Read Also: Likely Worth of 10,000, 20,000, and 50,000 XRP When Price Hits $100

A Potential 71,000% Surge: A Closer Look at Ashi’s Prediction

Ashi’s analysis proposes a mirrored repetition of the 2017 price surge on the current chart. By overlaying the 2017 price movement onto XRP’s current pattern, he suggests a potential rise to $305 by 2026. This projection translates to a remarkable growth of 71,000% for XRP.

The projected price increase is envisioned to occur incrementally. The initial phase anticipates a climb to $1.2 and $2, laying the groundwork for a further surge to $6 and $16 before reaching the ultimate target of $305.

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