There have been a number of XRP price predictions over the last month and the vast majority have been incredibly bullish. This bullishness stems from the fact that Ripple has secured multiple wins against the United States Securities and Exchange Commission (SEC) over this time, allowing the digital asset the space to begin climbing up once more. In the same vein, another crypto analyst has made a bullish prediction for the XRP price/
1,300% Breakout To $8 For XRP Price
Crypto analyst JD took to X (formerly Twitter) to update his over 31,000 followers on where he expects the XRP price to go next. JD who has been a staunch XRP bull maintains this stance in the analysis that puts the digital asset’s price at $8.
This analysis came with a chart that carried JD’s expectations for the cryptocurrency. He points out a triangle formation that has reappeared once more to back up this prediction. Mostly, the expectation comes from historical performance as the last time that the 4-year trend line breakout happened, it led to a massive surge in price. At the time, XRP had gone from $0.005 to $3 before correcting back downwards. And now, the same trend line breakout has appeared again but on a much bigger scale.
Source: JD on X
JD’s chart shows an 8-year trend line, a breakout from which, he expects the XRP price to blow up. If this breakout does happen, the crypto analyst puts the first target for the XRP price at $8, a whopping 1,300% rally from its current price. “#XRP monthly close is tomorrow, & still w/in the Symmetric Triangle. If we can have a confirmed breakout, Green Box would be the target!”
The analyst sees this as an opportunity, saying, “Loaded up heavily within orange box.” He also leaves a piece of advice for his followers as well to focus on the trend. “Ignore all narratives/news this coming bull cycle, and follow the chart!”
XRP retraces after brief spike | Source: XRPUSD on Tradingview.com
Buying For The Long Term
A previous X (formerly Twitter) post from the crypto analyst solidifies their bullish outlook for the XRP price. JD had previously expected a correction and with that correction playing out has now flipped bullish with an expectation for the digital asset to confirm the multi-month trend line breakout on October 31.
According to the chart, JD’s buy level had been just around $0.49 and as the price broke above $0.54, bullish sentiment became more settled. The analyst explains that as long as the XRP price continues to rise above $0.54, the chances of a takeout (a false breakout) become smaller.
When asked by another user where the expected target for this analysis lies, JD responded that a “measured move would be around 0.60.” However, he explains that the altcoin “could break higher if XRP/BTC chart starts heading higher.”
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Author: Best Owie