Amidst the great turbulence of cryptocurrencies from the TOP-10, XRP is behaving calmly. Perhaps the Ripple token is preparing to skyrocket.
The analyst known by the nickname Credible Crypto claims that the Ripple cryptocurrency is on the cusp of the most powerful rally in the history of the cryptomarket. In his opinion, as a result of the bullish cycle, the XRP price could rise to $20-30 from the current $1.23-1.25. This means an increase of 2400%. Credible Crypto recalls the story of 2017, when XRP grew 15 times in a month, from $0.22 to $3.3. The analyst states:
– Something similar can be expected here. I think if we can break the all-time high within the next few months then we’re easily going to go – 3 to 5X is very reasonable.
The all-time high (ATH) of XRP is $3.84, it was reached in early January 2018. The analyst believes that XRP has accumulated upside potential and can rise to $30 this time. However, on the way to this summit, a correction is possible, when players will take profits at a price of $10. According to Credible Crypto, the XRP bull cycle will last from six months to a year. The expert emphasizes:
– The hardest part is getting back to all-time highs. As we break all-time highs there’s no sell pressure above and it becomes very easy to climb the ranks and to get higher and higher.
The protracted return of XRP to all-time highs happens due to the delay in the judicial proceedings of the SEC lawsuit against Ripple. SEC lawyers still manage to postpone the examination of evidence in favor of Ripple, but sooner or later this will happen. In this case, the claim will most likely be canceled, and then the bullish rally in XRP will begin. The trial is predicted to end in September. Therefore, now many analysts are closely monitoring the dynamics of XRP.
The trader at the Amsterdam exchange and popular analyst Michaël van de Poppe gives another technical analysis of XRP. Previously, he also predicted XRP’s ATH upgrade. Van de Poppe is currently forecasting two resistance levels for the Ripple token, $2.85 and $4.3, using the Fibonacci extension. The analyst pays attention that rapid growth is generally in the nature of this cryptocurrency.
For example, after the SEC filed the lawsuit, XRP dropped, but then rose more than 830%, from $0.22 to $1.84 in just six months, from the end of December 2020 to April 2021. Van de Poppe also notes that the correction for the $2.85 level may not happen. It is very likely that traders will not take profits, and then the rally will continue to the second resistance level, $4.3. But this will already be the new ATH, so the sale may be limited and there is a high likelihood of further growth.