Per several analyses that seemed to have surfaced in the past few days, XRP appears poised for an unprecedented rally, which would lead to a new all-time high and beyond.
A new analysis recently emerged, predicting a 4900% rally that would catapult XRP to the $25 price status. However, this new estimation noted that XRP would drop significantly before kicking off any significant bullish run.
Read Also: Financial Expert Believes Ripple Share Could Reach $600, Sparking Potential Impart on XRP Price
XRP Expected To Drop As Low As $0.22
TheLeadingIndicator, a crypto chartist on TradingView, is the brain behind the newly surfaced XRP price projection.
According to TheLeadingIndicator estimation, XRP will witness gradual drops in value across three phases, after which the bull will set in.
The analyst noted a drop in price in this pattern: A decline below the $0.3785 price level in the short term would be accompanied by a further plunge to the $0.34 price mark. Finally, he said a one-last dip within the $0.22 price region will play out just before the next Bitcoin halving event in April 2024.
TheLeadingIndicator Long-Term Analysis
On a long-term basis, TheLeadingIndicator noted that an instantaneous surge to $25 could happen.
Notably, potential increments to high values like $28 and $35 were indicated. However, the $25 price projection seems more feasible.
At the time of writing, XRP is changing hands at approximately $0.5. A potential increase to the projected $25 would invariably imply an increase of about 4900%.
It is worth mentioning that the insight from TheLeadingIndicator was in response to a similar investigation from a fellow TradingView analyst.
Timeline For the Whooping XRP Price Surge
Brandon29992 is another analyst on TradingView and was the brain behind a price forecast that spurred TheLeadingIndicator’s XRP price estimation.
Brandon’s submission projected XRP above the $15 price mark, adding that his chart revealed XRP’s price to be within the $27 price range.
Read Also: Ripple CTO David Schwartz: Higher XRP Prices Will Bring About Cheaper Payments
Aside from his earlier submission, the $27 prediction by Brandon29992 seemed to have pushed TheLeadingIndicator to hint at a specific timeline for XRP’s anticipated rally.
According to TheLeadingIndicator, the $27 price prediction would likely happen in 2028. Meanwhile, the analyst asserted that XRP would decline to finally trade at the $5.89 level, citing the need for XRP to maintain a low price to serve its purpose.
In the comments, TheLeadingIndicator replied Brandon29992, “Yeah, but that target is in 2028, and we range near $5.89 thereafter. I used to be bullish on XRP, but Ripple’s business model is a pure distribution scheme, and the XRP token itself needs a low, stable price to serve its purpose anyway. I’m moving on to greener pastures. Cheers.”
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