XRP Poised for $1 Soon? Technical Chart Shows Interesting Insight

  • XRP has been predicted to hit $1 following months of pullbacks and inconsistent upsurge. 
  • Another analyst believes XRP could rise by 650 folds to hit $357 per coin. 

XRP’s journey back to $1 has been marked with a series of resistance as the asset struggles to breach a crucial resistance level at $0.67. Currently, XRP is trading at $0.6163 after surging to $0.62 a few hours ago. Regardless of this marginal decline, analysts including JayDee are very optimistic about price growth. Recently, JayDee predicted that XRP could rise by 650-fold after pointing out a bullish divergence in one of its charts. According to him, this was similar to a 2017 formation that took the asset to an all-time high of $3.4. At the time of his prediction, XRP was trading at $0.55. A 650 times increase would position it to $357.24 per coin. With this flagged as unrealistic by some enthusiasts, another analyst comes up with what seems to be a realistic price target after observing a bullish pattern formation by XRP. This was shared by an X user identified as “JackTheRippler.”

XRP

XRP Current Price Action 

XRP currently has a market cap of $34 billion and a 24-hour trading volume of $1.19 billion. However, it has a bearish market sentiment with its Relative Strength Index showing a neutral reading. An analyst identified as EGRAG CRYPTO believes that XRP still has a lot to offer as it could stage an explosive run of 40X or 50X from the current price. 

This time, with its unparalleled legal, and regulatory clarity, the potential for a 40X or even 50X boom seems promising.

According to him, the future gain of the asset could match that of Bitcoin and Ethereum in the previous bull run, positioning it to hit $27. From another perspective, the price move could largely depend on the ongoing court case between Ripple Labs and the US Securities and Exchange Commission. 

Also, Read about how far meme coins can go this alt-season.

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