The post XRP Price Update: XRP Set for a 299% Surge? Analyst Predicts $31 Long-Term Target! appeared first on Coinpedia Fintech News
After trading sidewise for a long period, Ripple’s XRP has surged to $0.62 and holding steady, supported by positive sentiment in the crypto market as Bitcoin price surge to $66,000 for the first time in five weeks. Prominent crypto trader Captain Faibik has predicted a potential 299.4% rally, with XRP possibly reaching $2.30 in the mid-term. And that’s not all—his long-term outlook suggests even bigger gains on the horizon!
XRP Aim To Hit $2.30
According to Captain Faibik, XRP could be on the verge of a strong upward movement. With the market showing bullish signals, he has set a mid-term price target of $2.30 for XRP, representing a massive 299.4% increase from its current level.
This potential rally comes as Bitcoin’s rise is boosting confidence in the broader crypto market, including altcoins like XRP.
However, this growing optimism around XRP is fueled by rising institutional interest, alongside the expectation of favorable regulatory outcomes. With almost the end of a 4-year long legal battle with the SEC, many believe that clearer regulations could significantly strengthen XRP’s standing in the market.
Long-Term Outlook: Even Bigger Gains?
Echoing a similar bullish stance market analyst EGRAG has hinted at even more ambitious long-term price goals for XRP. He says that XRP could potentially see an 888% surge if it hits its previous high of $3.31. EGRAG’s latest analysis highlights a recurring chart pattern on XRP’s 1-month chart, resembling its 2017 bull run. Back then, XRP hit an ascending red support line four times before skyrocketing.
#XRP 888.88% – The Secret Behind the 8’s
:
Check out the chart below
— it’s presenting a crucial pattern showing #XRP is echoing the chart behavior from 2017!
Back then, the Red Ascending Support Line was tapped 4 times before sparking the legendary 2017 #BullRun.
… pic.twitter.com/dXPeZisHmA
— EGRAG CRYPTO (@egragcrypto) September 27, 2024
Currently, XRP has touched this same support line again, signaling the possibility of a similar rally. EGRAG believes that if conditions align, XRP could reach $31, coinciding with a major Fibonacci extension level (Fib 1.618).
However, for this to happen, XRP needs to first surpass its previous all-time high of $3.31 from 2017. If it does, even a fraction of the gains from that rally could push the price to $6.50 and beyond, potentially targeting $31.
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