A Potential Price Surge for XRP: Analyst Predicts $100-$130 Range
If you’re a cryptocurrency enthusiast, you’ll be thrilled to hear that a popular analyst has made an exciting prediction about the future of XRP. According to this analyst, the native token of the XRP Ledger could experience a massive price rise after next year, potentially reaching anywhere between $100 and $130. So, what’s the basis for this prediction?
The analyst points to a chart that shows a symmetrical triangle pattern forming. This pattern is often seen as a sign of consolidation and uncertainty in the market. However, depending on the direction of its breakout, it can also indicate either a continuation or a reversal. In the case of XRP, a previous symmetrical triangle breakout led to the cryptocurrency hitting an all-time high of over $3 during the 2017 bull run.
While some in the cryptocurrency community are enthusiastic about this prediction, others believe lower price targets may be more realistic. Earlier this year, another analyst suggested that XRP’s price could drop below $0.50 before eventually surging to $1. However, with institutional investors showing interest and on-chain volumes increasing, the future looks promising for XRP.
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