MEXCAnalyst Predicts XRP Price Could Surge Above $1400 as Bull Flag Breaks
Highlights
- XRP price is breaking out of a multi-year bull flag pattern dating back to 2018.
- Analyst projects a potential XRP price target of $1,452.81 based on the breakout.
- The analysis suggests traders may be underestimating XRP’s long-term upside.
A long-term technical pattern on XRP price chart is drawing attention as crypto analysts outline a bullish scenario that could see the altcoin climb to $1,452.81. The projection is based on the breakout of a multi-year “bull flag” formation, traditionally seen in technical analysis as a continuation pattern that may precede upward momentum. This development comes as market participants reassess XRP price role in the broader digital asset landscape.
XRP Price Could Hit $1,452 as Analyst Spots Bull Flag Breakout
Analyst “Steph is Crypto” took to the X platform to present a long-term bullish chart for XRP price. According to the shared analysis, the Ripple token is breaking out of a multi-year bull flag pattern dating back to 2018. This formation is a continuation signal in technical analysis, pointing to upward momentum after consolidation.
The breakout above the downward-sloping channel marks a shift in price structure. Steph suggests that the XRP price could reach as high as $1,452.81 over the coming years. This forecast is based on the length of the initial flagpole projected from the breakout point.
More so, “Steph is Crypto” chart indicates that XRP price may now be entering a new phase of movement after years of consolidation.
Expressing his optimistic Ripple price prediction, the analyst added,
“I don’t even want to give you this #XRP price target! You’re definitely not bullish enough.”
Similarly, a recent report speculate that Michael Saylor could diversify MicroStrategy’s portfolio by allocating $21 billion from Bitcoin into XRP. Analysts suggest such a move could trigger a parabolic rally in XRP price, potentially pushing it toward the $1,000 mark.
Additional Technical Breakout Around $2.48
In a recent video update, Steph is Crypto highlighted a second technical breakout. This time, a descending wedge pattern was identified, a structure associated with trend reversals. The XRP price was shown crossing above the wedge’s resistance level, trading around the $2.48 mark.
The analyst chart suggested this move could act as an entry point for traders. The projected target from the wedge breakout is $3.36, representing a potential 37.98% gain from current levels.
More so, analyst Dark Defender also shared bullish crypto market sentiments, projecting the top altcoin could reach $77.7 in the current bull cycle. His forecast relies on Exponential Fibonacci levels and Elliott Wave theory, pointing to a multi-phase rally.
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