Price Analysis

XRP Price Primed For A Huge Upswing, These Are The New Targets Set!

news-image
Highlights

    XRP price is expected to mirror its previous bull rally of 2017 and surpass the current ATH

    The price could also go away long above the ATH to reach a bigger target probably above $6

XRP price is an interesting topic in the space as the updates of the lawsuit tend to give a boost. In a very latest update, the SEC has accepted that ETH is not a security, yet kept XRP still away. However, the asset continues with its downtrend and shedding its gains every minute.

The price is currently could lose the grip over the uptrend as a breakout from the symmetrical triangle towards the south could be a little worrisome. Despite the downtrend, yet the price remains within the triangle, pointing towards the possible flip incoming. However, a jump to $1.07 levels could only squash the bearish narrative else darker days waiting ahead.

With an interesting theory, a popular analyst sees the XRP price to hit above $6 very soon. According to the analyst, TradingShot, the XRP price is mirroring the price movements of the 2017 bull run. And the outcome of this bull run could lie somewhere around $8.71.

xrpprice

As per the chart posted by the analyst, it is pretty clear that the XRP price is flowing at a similar pace as it did a couple of years ago. The price then experienced a 20^ fall and jumped aggressively, killing a couple of zeros. Later with a slight pullback, the price consolidated for a while before a massive leg up to its ATH above $3. 

In the present scenario, the asset is following a similar movement, where-in it has already experienced a slight pullback. And hence the next leg-up could eventually smash higher targets than the ATH somewhere very close to $10. On the other hand, the rumours of Coinbase relisting the asset is getting stronger and stronger.

 Also, the Ripple & SEC case taking too many twists and turns is just eating up time without any hard evidence. Once these are settled, the XRP price would tend to hit higher highs without any barriers and slippages. 

Tags
Show More

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Related Articles

Back to top button
Close
Close