XRP Price Nears Major Converging Point: Analyst Predicts 3,600% Jump To $20
23 Maggio 2024 - 1:00AM
NEWSBTC
A crypto analyst has predicted the next price target for the XRP
price, noting that the altcoin was nearing a key point that could
potentially trigger a major bull rally for the
cryptocurrency. XRP Price Roadmap to $20 In an X (formerly
Twitter) post on May 20, Crypto analyst, Javon Marks forecasted a
strong bullish breakout for the XRP price in this market cycle.
Marks explained that XRP was steadily approaching a critical
converging point, with an emerging Relative Strength Index (RSI)
pattern indicating strong underlying momentum for the
cryptocurrency. Related Reading: Institutional
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To $80,000? An RSI is a technical tool used to measure the speed
and change of price movements in a cryptocurrency. It is also used
to determine the short-term momentum of a cryptocurrency’s
market. Sharing a price chart depicting the XRP price
movements from 2018 to 2025, the analyst predicts that XRP’s
closing converging point and RSI pattern are signaling a massive
breakout to new all-time highs. He has projected a “conservative”
target that could see XRP’s price soaring between $15 and $20 in
the coming weeks. Additionally, XRP’s present price actions
are displaying a bullish pattern reminiscent of the one observed
during its mega rally to a new all-time high of $3.84 in January
2018. Marks noted that for XRP to reach the ambitious $20 price
target, the cryptocurrency would have to witness a massive surge of
2,000% to 3,000%, translating to 20X to 36X from its current
price. Concluding his analysis, the crypto analyst
disclosed that all the factors and indicators were pointing towards
a potential rise in XRP’s price. However, the exact timing of when
this will occur is uncertain. More Bullish Projections
For XRP XRP has been drawing significant attention from market
analysts, who are projecting increasingly bullish price movements
for the cryptocurrency. Despite its struggles to reach the coveted
$1, the XRP price has still exhibited some strength as it continues
to maintain a price position around the $0.5 mark. Related
Reading: Crypto Market Liquidations Top $330 Million In 24 Hours
With Ethereum In The Lead Prominent XRP supporter and crypto
analyst identified as ‘JackTheRippler,’ on X predicts that XRP is
poised for an explosive rally after years of accumulation. Sharing
a price chart illustrating XRP’s price action from 2017 to 2024,
the crypto analyst revealed indicators that suggested a potential
rise to new highs. Another XRP community member and crypto
analyst identified as ‘XRP Captain,’ has also confirmed a potential
breakout for the cryptocurrency. He disclosed that XRP’s next
target will likely be $0.7 before June 2024. At the time of
writing, XRP’s price is trading at $0.53, marking a decline of
1.06% in the last 24 hours, according to CoinMarketCap. Over the
past seven days, the cryptocurrency has performed relatively well,
recording a series of minor rallies that contributed to a 6.67%
gain. A bullish breakout for XRP will require sustained momentum
and increased trading activities from investors. Currently, the
cryptocurrency’s daily trading volume has not demonstrated
significant growth, indicating only a slight increase of 3.25% in
the last 24 hours. Featured image created with Dall.E, chart
from Tradingview.com
Grafico Azioni Ripple (COIN:XRPUSD)
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Da Ago 2024 a Set 2024
Grafico Azioni Ripple (COIN:XRPUSD)
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Da Set 2023 a Set 2024