Bitcoin

This Bullish XRP Price Prediction Charts A Parabolic Rise To $20

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The past week has been characterized by bullish predictions for the XRP price and the crypto analysts are far from done. The latest prediction has painted an incredibly bullish picture for the cryptocurrency, putting it at a double-digit price on the back of an expected parabolic rise.

XRP Price To Surge By 2,500%

In an unexpected prediction post made on X (formerly Twitter), a pseudonymous crypto analyst known as EGRAG CRYTPO is seeing big moves for the XRP price. The post featured a chart that showed the cryptocurrency forming a rather distinctive triangle pattern.

Now, according to this post, this pattern is important because of what happened the last time it appeared. As EGRAG’s chart points out, the same pattern that has formed over the last four years is almost identical to that seen between 2014-2018.

Once this pattern had formed completely last time, the XRP price saw an impressive rally, going from around $0.005 to over $1.2. This time around, the analyst believes that if this pattern repeats, then the XRP price could see a parabolic rally that could bring its price above $10.

Furthermore, if the XRP price were to follow the forecast as was previously seen, $10 may only be the halfway point for the altcoin. EGRAG’s chart shows a possibility of even doubling from this point, bringing the possible end point for the rally to $20.

Ripple XRP price chart from Tradingview.com

Token price maintains trend below $0.5 | Source: XRPUSD on Tradingview.com

Crypto Analysts Bullish On XRP

The bull bug for the XRP price has spread rapidly across crypto analysts who have continued to come forward with bullish predictions. Another analyst who also sees an imminent impressive rise for the asset is Dark Defender.

While Dark Defender’s prediction is a lot more conservative compared to EGRAG’s, it is still very optimistic. In the chart shared by the analyst, they point toward a break above $5. This is based on the Elliot Wave analysis, with Wave 1 already passed and Wave 2 close to completion. Following this, the analyst predicts that Wave 3 could see the XRP price rise between $1.88 and $5.85.

Dark Defender’s prediction is also similar to the bull case presented by another analyst who goes by Coinskid on X. Coinskid points to a resistance just below $1, saying that a break above this resistance could see the XRP price rise as high as $6.29.

Naturally, these are just speculations, meaning that it is not a given. For now, XRP is still struggling just above $0.47 as recent market trends have helped bears take control of the asset.

Featured image from Cryptoknowmics, chart from Tradingview.com


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