XRP The token has been in a downward trend for some time now, struggling between $0.49 and $0.50, making it one of the most affected cryptocurrency assets amid the general bearish sentiment in the market.
XRP could surge to $10.
Even though the digital asset is currently in a bearish phase, we can expect significant price appreciation for the coin. Several crypto analysts are bullish on the token and have predicted a significant upward move that could push XRP to new all-time highs.
one of the popular cryptocurrency expert Sharing his optimistic outlook on the asset is Crypto Patel. patel shared Here are his latest predictions for social media platform X (formerly Twitter), which has thousands of followers. The analyst believes that this is finally “XRP’s time to shine” and that past trends will lead to a parabolic rise.
According to Patel, during the last bull market, cryptocurrency assets did not perform very well, along with other tokens such as: Bitcoin. He emphasized that while Bitcoin reached all-time highs during the last bull market, XRP failed to surpass its 2017 high of $3.30. However, he claimed that this was due to the legal battle between Ripple and the US Securities and Exchange Commission (SEC) regarding the non-secure nature of XRP.
So far, Patel believes that the recent SEC victory over Ripple could possibly open the “floodgates” to a breakthrough. He pointed out that the 2017 triangle collapse, which formed before XRP went parabolic, is reappearing on the annual chart.
Patel argued that a massive rally could occur if the coin mirrors 2017 trends. “If there is a repeat of the 40,000% pump from 2017, we could see XRP above an incredible $10,” he said.
6 years of cruel bear days
Over the past 6 years, Price of XRP After integration into the triangular range, it has undoubtedly gathered more positive fundamental characteristics. “Having endured more than 2,291-6 brutal bear days, this coiling pattern indicates that Ripple is ready to erupt,” Patel said.
Due to this, cryptocurrency analysts expect the price of XRP to rise to $0.90. However, this is expected to happen after a successful breakout of the $0.40 and $0.50 price levels.
After that, the cryptocurrency expert believes there will be no doubt about new peaks and a parabolic upward path to $10. He further highlighted several price targets for XRP, setting the accumulation range at between “40 and 50 cents.”Patel urged the community to exercise caution as digital assets could be on “a springboard again.”
As of this writing, the price of XRP is trading just below $0.50, indicating a 2% decline over the past week. Despite the price drop, trading volume has increased by more than 15% over the past day, according to CoinMarketCap.
Featured image from iStock, chart from Tradingview.com
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