A recent post by Butcher (@easyeight08), a well-known cryptocurrency enthusiast on X, has drawn significant attention to XRP’s price action. The post expresses a bullish outlook, and he attached a monthly chart to support his prediction.
The chart indicates a decisive breakout from a long-term price consolidation, with an arrow projecting a potential move toward $20. Butcher revealed that he isn’t a fan of technical analysis, but admits that XRP’s chart looks very bullish.
I'M NOT A FAN OF THIS SHIT, BUT IT LOOKS VERY BULLISH HERE!$XRP TO 20$ pic.twitter.com/UAvXM5DbCY
— BUTCHER (@easyeight08) February 24, 2025
The price movement suggests that the digital asset has confirmed a breakout above a historical resistance zone, which previously acted as a major barrier. This barrier blocked XRP from climbing further in 2021, capping it at $1.96.
Notably, veteran trader Peter Brandt drew attention to a similar situation in late 2024, noting that a breakout above $1.96 could send XRP soaring. The digital asset crossed this level in December 2024 and rode the bullish wave to a multi-year peak of $3.39.
However, Butcher’s analysis suggests this surge is not over, and the asset could climb to $20 soon.
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Technical Analysis and Price Targets
The chart in Butcher’s post shows this breakout, accompanied by an increase in the Relative Strength Index (RSI). While the RSI has dropped slightly since the breakout, it is still overbought territory.
The chart shows that the RSI could resume this climb, pushing it further into overbought territory. While this could hamper the asset’s upward trajectory, the chart shows an upcoming RSI dip that could help it sustain its momentum.
Other analysts have echoed bullish projections for XRP. One recent analysis suggests that XRP holders may not fully grasp the potential upside. EGRAG CRYPTO (@egragcrypto), a prominent crypto analyst, recently showed that XRP is building a specific bullish pattern for the first time in its history, and this could lead to an unprecedented phase of bullish momentum
The analyst has also drawn attention to XRP’s performance against Bitcoin, suggesting that the digital asset could outperform BTC significantly, potentially hitting $34.
Some other analysts have gone even further in their predictions, with one expert suggesting that XRP could eventually surpass $100. The community is overwhelmingly bullish on XRP, and we could see a price of $20 and beyond very soon.
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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