Crypto analysts remain super optimistic about the future of the XRP price despite its poor past performance. While some analysts have forecast price targets that seem unrealistic to many, others have set more conservative targets. This is the case of crypto analyst Alan Santana, who just revealed his six-month prediction for the XRP price.
XRP price is ready for a bullish wave
Alan Santana went to the TradingView website share his latest analysis on the XRP price. This prediction is expected to come true over the next six months as the crypto market heads into what is expected to be an explosive bull rally.
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The crypto analyst believes that the altcoin’s price could move well ahead of other altcoins in this cycle. “It will probably be one of the first to make a big move… One of the first to make a big move!” said the analyst. Santana also gives reasons for this, including that the waiting period between each bullish wave for the XRP price has passed.
His analysis found that the altcoin typically experienced a six- to eight-month gap between each bullish wave. However, it has been 308 days since the last bullish wave, which lasts over ten months. This means that the altcoin is more than ready for another bullish wave. He also added: “The fact that XRPUSDT has undergone a correction and has been consolidating for so long is considered bullish.”
Moreover, the altcoin is in a bullish trend and is recording higher lows. This is generally bullish for any asset as it suggests better support for the price as it moves higher. “Higher lows mean the bulls have the upper hand when it comes to the long-term trajectory of this chart,” Santana explains.
XRP could rise 280% in 2024-2025
The crypto analyst expects a fairly quick bullish wave for the XRP price and states that this will happen sometime in 2024 and 2025. The main reason behind this is that the accumulation phase for the altcoin is finally coming to an end.
This is a sentiment also shared by another crypto analyst known as U-Copy. According to the analyst, the The XRP price has been on the rise for the past seven years, but in 2024 it will finally end, and this end in the accumulation phase will lead to a rally.
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While U-Copy expects the altcoin to hit a new all-time high as this accumulation phase comes to an end, which would mean a move of at least 600%, Santana has taken a more conservative stance. The analyst does expect the XRP price to rise above $1, but estimates the peak around $1.9 and $2. This would represent a 280-300% move from here.
“Once the price starts to rise, it will remain very strong and for a very long time… People will wonder: ‘Why didn’t I buy when prices were low?’” the analyst concluded.
Featured image from CoinMarketCap, chart from Tradingview.com