XRP could be on its way to becoming one significant price increaselike this crypto expert recently highlighted an indicator that this may be on the horizon. This will undoubtedly be a welcome development for the XRP community as of late been astonished by the price action of XRP.
XRP is forming a bullish pattern on the charts
In a after shared on his X (formerly Twitter) platform, crypto researcher ABS from the 3T Warrior Academy highlighted the fact that XRP is the biggest bull flag in crypto history. This speculation was based on a monthly chart he shared. From the chart you could see that XRP indeed formed a bull flag, which immediately signals bullish sentiment.
The crypto expert further noted how XRP has been trading below its all-time high (ATH) of $3.8 for “2,165 days and counting.” He alluded to the fact that this could be a result of the “unregistered security” label the SEC had placed on it.
However, Abs is optimistic about regulatory clarity. Another crypto analyst had that too recently highlighted a similar pattern on the charts, when he noted that the altcoin formed a bull flag that could send the price to $25.
Many in the community seem to share this analyst’s sentiment regarding the price forecast. ABS had set up an opinion poll below his first post asking his followers what they think XRP’s top price target would be when the breakout happens. The majority of those who voted believed that XRP will be greater than $22.35 when the expected breakout occurs.
Token price recovers to $0.62 | Source: XRPUSD On Tradingview.com
Patience is the key
Crypto analyst Egrag Crypto stated that patience is key as the XRP Community wait for a significant rally in the crypto token. He made this comment while sharing an accompanying chart showing the future trajectory of XRP. The chart shows that the analyst predicts that the long-awaited price increase of XRP will occur in 2024.
Source: X
Based on his projection, XRP would rise above $1.50 sometime between February and March 2024. He expects XRP to experience a significant drop soon after, with the crypto token falling to $0.7. However, the community will once again have reason to smile as the token will rise “to Valhalla” from then on. Eggrag predicts this will happen in June 2024.
At the time of writing, XRP is trading around $0.62, up over 3% in the past 24 hours. facts from CoinMarketCap.
Featured image of CoinCodex, chart from Tradingview.com
Disclaimer: The article is for educational purposes only. It does not represent NewsBTC’s views on buying, selling or holding investments and of course investing involves risks. You are advised to conduct your own research before making any investment decisions. Use the information on this website entirely at your own risk.