XRP has become a focal point for bold price predictions from various analysts. These forecasts are grounded in technical analyses that suggest the possibility of significant price increases for the token.
XRP is trading at $0.5609, and notable experts have put forward price targets ranging from $150 to $587, based on different technical patterns and market conditions.
XRP Aiming for $150
Javon Marks (@JavonTM1), a well-known market analyst, recently provided an analysis suggesting that XRP could see a dramatic price increase to $150.
Marks’ prediction is primarily rooted in the historical price movements of XRP and a technical pattern known as a descending triangle, which has been forming over several years.
Marks identified that after hitting an all-time high in January 2017, XRP entered a prolonged period of price consolidation. Within this broader pattern, a smaller symmetrical triangle has developed, indicating a narrowing trading range. Marks believes this technical setup could lead to a significant price breakout.
If XRP were to break through the upper boundary of this descending triangle, which was recently tested, Marks predicts a full logarithmic follow-through. This he said could send XRP up by over 41,000%, potentially reaching the $150 mark.
The $333 XRP Price Target
Dark Defender, another prominent crypto analyst, also recently provided an even higher price target for XRP, suggesting the token could reach $333. Dark Defender has previously set targets ranging from $1.88 to $18.22, and the target of $333 suggests a slow buildup before a massive surge.
Dark Defender’s previous analysis revolves around XRP’s ability to break through key resistance levels, and surpassing these barriers could lead to a continued upward trajectory, potentially resulting in a price of $333.
However, achieving this price with XRP’s circulating supply of 55.9 billion tokens would imply a significant increase in market capitalization, raising questions about the feasibility of such a prediction.
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A Bold Prediction of $587
The most ambitious price prediction for XRP comes from an analyst known as Flash (@THEFLASHTRADING), who forecasted that XRP could reach $587. Flash’s analysis is based on XRP’s weekly chart, which he claims shows a symmetrical triangle pattern that has been forming since the token peaked at $1.96 in 2021.
Flash argues that XRP is currently on the verge of breaking out of this pattern, as indicated by the appearance of larger green candles on the weekly chart. According to his analysis, this breakout could lead to a 97,700% increase in XRP’s price, driving it to $587.
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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