Since then, the XRP price has been promising a price spike Ripple’s victory against the US SEC. Many community members are currently keeping a close eye on the cryptocurrency and hoping for a significant price increase. One crypto analyst in particular has predicted a massive run for the altcoin that could push its price into triple digits.
XRP is predicted to reach $130 in the next Bull Run
After the partial victory over the US Securities and Exchange Commission (SEC) the following July Judge Analisa Torres ruled in favor of Ripple LabsXRP, Ripple’s native token, has fluctuated widely despite the positive sentiment surrounding it. Nevertheless, an analyst sees a potential bull run for the altcoin.
Crypto analyst and XRP influencer, XRP Captain, has predicted a significant price hike for the XRP token on an X (formerly Twitter) after. XRP Captain shared a chart with a symmetrical triangle pattern that he used to predict the future price movement of XRP worth $130.
Apparently XRP has a history of symmetrical triangle patterns. In 2017, the cryptocurrency broke out of a similar symmetrical triangle pattern, pushing the token to new all-time highs. As for when this will happen, the analyst points to the expected 2024 bull run.
Can you imagine the magnitude when this outbreak takes place?????????? I wouldn’t be surprised if #XRP Reach 100$ to 130$ in the next Bullrun????????????. #XRP Consolidation 2014 to 2017 versus 2018 to 2024. Full throttle #XRPHolders #XRPCommunity pic.twitter.com/gm9hLiqh6M
— XRP CAPTAIN (@UniverseTwenty) September 3, 2023
The analyst is not alone in predicting a bull run for the altcoins. Earlier in August, a pseudonymous analyst also came by predicted a huge rally for XRP that could see the token reach its previous all-time high of $3.
In this case, the analyst highlighted that the XRP/BTC pair had finally regained the 20- and 50-day moving averages, and the last time this happened was also in 2017. This led to an increase of more than 500%. the price of the altcoin at that time.
This is the first time we see this $XRP in 5 years! ????$XRP / $BTC on the monthly time frame has recovered the 20 and 50 SMA. ????
Not only this, but it also moved back to the 50 SMA to test it as support (if we keep it going through the month). ????
The last time we… pic.twitter.com/d5zjzwcTvm
— Cryptoinsightuk (@Cryptoinsightuk) August 13, 2023
Token continues to fluctuate above $0.5 | Source: XRPUSD on Tradingview.com
Crypto Community Uncertain About XRP Price Prediction From Analysts
Following XRP Captain’s prediction about XRP’s possible bull run, other crypto analysts have also shared their thoughts on the huge disbelief of the prediction.
JD, another crypto trader and chartist, was excited about the technical patterns XRP price charts showed. He explained that the symmetrical triangle was accurately represented. However, he could not see the price of XRP reaching the triple digits.
“I just can’t see that three-digit target. However, there are still $20 in the cards,” he stated.
XRP price has also been especially down. However, XRP whales Don’t be put off as these big investors take advantage of the market downturns and buy up hundreds of millions of tokens.
XRP is currently eyeing a reversal, with the price posting a meager gain of 0.02% over the past day. However, it is still struggling on the weekly chart with losses of 2.61%.
Featured image of Zipmex, chart from Tradingview.com