Amid recent market volatility, major cryptocurrencies like XRP have ignited a wave of optimism among investors and traders. Several crypto analysts are offering bold predictions about the altcoin, fueling excitement in the community. Although XRP has not experienced a massive surge since its rally to its all-time high in 2017, these analysts believe a similar move could occur in the ongoing bull cycle.
Crypto expert and trader Xaif has made a bold prediction, suggesting that XRP is on the brink of a significant breakout. Analyzing the current price action of XRP, Xaif pointed to a bullish Symmetrical Triangle pattern on the altcoin’s weekly chart. This pattern typically develops when an ascending line connecting the lows and a descending line connecting the highs converge, indicating a consolidation phase before a potential breakout either on the upside or downside.
In this case, Xaif has identified a potential massive breakout on the upside for XRP. He has set his next price target for the digital asset at the pivotal $150 level within the next six months. This prediction has stirred up excitement and skepticism within the community. While some enthusiasts express strong displeasure with Xaif’s forecast, citing the unpredictable nature of crypto assets, Xaif remains confident. He believes that XRP’s real-life utility and potential to handle global transactions could drive the token to the $150 threshold and beyond.
Xaif also noted that XRP is stabilizing with a rising trendline between the $0.5650 support range and the $0.6450 resistance level. According to him, a decline below $0.5650 or the trendline may indicate a negative trend, while a breakout above $0.6450 would suggest a bullish move.
Another crypto analyst, Fiatleak, has also forecasted a breakout for XRP in the short term. Fiatleak mentioned that the altcoin has been displaying strong signs of an upsurge over the past two days, driven by growing market optimism and recent positive developments in the US Securities and Exchange Commission’s (SEC) legal battle with Ripple, the company behind XRP.
During this period, XRP has been fluctuating between $0.57 and $0.65. Experts believe that if the altcoin can overcome significant resistance levels, it may soar to new all-time highs.
As XRP currently trades at $0.5818, the community watches closely, anticipating whether the predictions of a major breakout will materialize.
