- Crypto analysts confer over epic uptrend signals for Ripple’s XRP.
- Two analysts spot the formation of a bullish golden cross for XRP.
- One analyst expects a parabolic pump of over 3,200% for the price of XRP.
As one of the most bullish altcoins this season, Ripple’s XRP has gained a lot of attention from reputed crypto analyst all expecting exponential price surges for the altcoin. Ever since Ripple’s battle with the SEC began, XRP price has missed every bull run since. This leads many analysts to believe that the price of XRP is compressed and waiting for an explosive pump.
Could XRP Take the Lead This Bull Cycle’s Altseason?
According to one analyst, XRP is in the midst of completing a legendary golden cross pattern. This significant completion of the golden cross could lead to a monumental price surge for XRP, perhaps even the formation of a god candle taking XRP price to new heights. Meanwhile, another analyst shares a potential 3,200% price pump for XRP.
As we can see from the post abode, this analyst has predicted a 3,200% surge for XRP taking the price of the asset to a $18.22 ATH. The analyst notes that XRP has been consolidating between $0.6649 and $0.33917 for an extended period.
Major Upward Surge Expected for XRP Price
He also shed light on a golden cross in the token’s Relative Strength Index (RSI), indicating that XRP could be primed for a significant breakout. For a bull run to begin, he emphasizes that the $0.6649 level needs to be surpassed, while support is found at $0.5286 and $0.4623.
The analyst likened the current market conditions to those preceding XRP’s 2017 rally, which saw the cryptocurrency’s value surge by 61,000% in less than a year. He suggested that a similar pattern could unfold, predicting XRP could hit the $18.22 target during a potential Wave 3 rally, based on the Elliott Wave Theory.
This theory, developed by Ralph Nelson Elliott in the 1930s, identifies repetitive market cycles driven by investor psychology, suggesting that markets move in waves. The analyst’s bullish prediction aligns with past trends and his use of this theory, forecasting a potential resurgence in XRP’s price similar to its historic 2017 boom.
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