XRP seems poised for a potential rally sooner than expected, as bullish predictions for the digital asset continue to flow from top crypto analysts and chartists.
In one of the most recent XRP price predictions, Bilbuwoo, a crypto and XRP enthusiast, took to the X app to call followers’ attention to a pattern he observed in the XRP price movement.
Using a chart to drive his assertion, the crypto analyst noted that XRP is on the verge of witnessing a rally that would catapult its price to a high of $39.
Read Also: Japanese Researchers Discover Correlation Between XRP Price and Transaction Network System
Bilbuwoo’s forecast focussed on the Z-score indicator and was inspired by a similar 2017 XRP price pattern.
Meanwhile, for context, Z-scores indicate statistical measures for accessing the distance between a data point and the average when dealing with standard deviations.
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Both XRP and XLM are passing Feb-Mar mark of 2017. Are you planning to sell if X falls here? If you check how big the rise has been since then…
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Reviewing The Historical Pattern That Supports Bilbuwoo’s Analysis
According to Bilbuwoo, XRP’s current trend dates back to 2015, when the asset declined from its price high of $0.02803 in December 2014. 2015 saw XRP shed off all gains, accrued in 2014.
In 2015, XRP seemed deep in slashing profits, succumbing to its lowest point in September.
XRP entered the accumulation phase after attaining its lowest point. The accumulation period extended till 2017 when the Z-score revisited its lowest level and rebounded.
The bounce-back orchestrated what Bilbuwoo tagged as the “Explosion Period.” Notably, it birthed the unprecedented rally in January 2018 that resulted in XRP attaining its all-time high (ATH) price level at $3.3.
How XRP Seems to Parallel This Past Record
After its peak in April 2021, when it attained a $1.9669 price high, XRP steadily corrected its previous gains. Amid the correction, the Z-score revisited its lowest point in May 2022, leading invariably to another accumulation phase.
XRP continued maintaining conditions for being in an accumulation period. However, the digital asset retouched its lowest point, implying that the much-anticipated rally might be playing out sooner than expected.
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Bilbuwoo’s prediction for potential XRP price movement went thus: He forecasted that XRP would reach the $6.1476 price level before a correction set in, bringing it down $3.1597.
The crypto analyst noted that the correction would precede another bull run that would first catapult XRP to the $24.7229 price level and then to an unprecedented ATH of $39.8903, a 1,108.8% increase from its previous $3.3 all-time high.
At the time of writing, XRP is changing hands at $0.51, with a market cap of $27,171,114,586 and a 24-hour trading volume of $729,022,128. An increase to the projected $39.8903 price mark would imply a percentage increase of 7,721.6%.
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