Top analysts have been talking about where XRP’s price might be headed. Levi Rietveld shared his thoughts on X (formerly Twitter): “$XRP is about to explode!” At the same time, someone else—ZAYK Charts—pointed out a pattern in the price movement that looks like a bullish pennant. Based on this pattern, they think the price of XRP could hit $3.50.
XRP Chart Analysis: Price Trends Indicate Parabolic Growth Potential
A logarithmic price chart of XRP spanning from 2014 to 2030 showcases historical peaks and future projections. Key data points highlight XRP’s tendency to rally exponentially after prolonged consolidation phases.
XRP chart’s parabolic trendline intersects critical resistance zones, hinting at a long-term price target near $60 by 2028 if growth continues.
The price action in 2024 is particularly notable, showing sharp upward movement that aligns with historical trends of exponential growth. Support levels around $0.12 and $0.024, seen during past bear markets, further reinforce the structural foundation for bullish momentum. Analysts suggest that the current XRP price near $4.00 may be testing a significant breakout zone.
XRP Price Chart Forms Bullish Pennant Formation
ZAYK Charts identifies a bullish pennant formation in the 8-hour XRP/USDT timeframe. This technical pattern, characterized by converging trendlines following a steep price rally, indicates a potential continuation of upward momentum. The green box marked on the chart projects a breakout target of $3.50, based on the flagpole’s length.
The support levels at $2.00 and $1.75 provide a cushion for any potential price pullbacks, while the resistance near $3.50 presents a critical threshold for further gains. As the price of XRP tests the upper trendline, analysts highlight the importance of increased trading volume to confirm the breakout’s validity.
Read Also: Expert Says ‘Big BONK Move Coming,’ Predicts Memecoin Could Rally 500%
Social Media Influence on XRP Sentiment
The tweets from Levi Rietveld and ZAYK Charts reflect strong bullish sentiment within the crypto community. Phrases like “XRP is about to explode!” and visual aids of technical setups amplify excitement and engagement among traders. These social signals often influence market behavior, especially in the speculative crypto sector.
By combining technical analysis with growing market enthusiasm, XRP’s price movement continues to draw attention, making it a focal point for traders seeking potential opportunities.
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