Renowned crypto analyst TonytheBull recently shared a compelling XRP price analysis, highlighting a bullish scenario based on a classic technical pattern.
The analysis, accompanied by a chart, speculates that a valid bull flag formation in XRP could propel its price to $13, a target he described as ambitious but possible under favorable market conditions.
If this is a valid bull flag in XRP, the target is $13
This is significantly beyond my top targets, but not impossible pic.twitter.com/bacmrcNyOD
— Tony "The Bull" Severino, CMT (@tonythebullBTC) January 1, 2025
The Analysis in Context
In the tweet, TonytheBull acknowledged that $13 surpasses his conservative price targets, which range between $6 and $9. When questioned by another user about his expectations, he reaffirmed his preference for conservative estimations, emphasizing the speculative nature of technical targets.
This forecast aligns with prior analyses from EGRAG Crypto, another technical analyst who has extensively evaluated XRP’s potential price levels. Last November, EGRAG published an analysis that picked $1.10 as a critical threshold for XRP’s upward trajectory.
He described $1.10 as the “ignition stage,” where a confirmed breakout would signal the start of a long-term trend reversal. Since XRP has now surpassed this milestone, the technical indicators suggest the potential for further appreciation.
XRP Key Targets
EGRAG’s analysis outlined two major price targets for XRP beyond $1.10:
$6.40: This level was labeled a “non-logarithmic measured move,” which indicates price growth based on linear projections. Such targets often rely on straightforward calculations without factoring in exponential growth dynamics.
$13.00: Referred to as the “logarithmic measured move,” this target incorporates historical patterns of exponential price scaling. Logarithmic analysis reflects the crypto market’s tendency to grow disproportionately during periods of high momentum.
EGRAG’s projection emphasizes that $13.00 is a plausible peak for XRP, contingent on market sentiment and the asset’s ability to sustain its bullish momentum.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Current Market Performance
At the time of the analysis, XRP was trading at $2.30, comfortably above the critical $1.10 threshold identified by EGRAG. The price action appears to validate the bullish thesis, with XRP showing signs of forming a continuation pattern—a technical structure often referred to as a bull flag. This formation is characterized by a steep upward movement (the “flagpole”) followed by a consolidation phase (the “flag”) before a potential breakout to the upside.
If the bull flag pattern plays out as expected, the implied measured move would bring XRP to the $13 target, representing a substantial increase from current levels. However, achieving this target would require sustained buying pressure and favorable macroeconomic conditions.
While TonytheBull and EGRAG Crypto present optimistic scenarios for XRP, their analyses underscore the speculative nature of technical projections. TonytheBull’s cautious optimism and EGRAG’s detailed breakdown of price targets provide valuable insights for traders.
With XRP now far above the $1.10 mark and consolidating around $2.30, the market awaits further confirmation of bullish momentum.
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.
Follow us on Twitter, Facebook, Telegram, and Google News
