XRP Regains $1.25 Key Support, Analyst Predicts XRP Could Rally 2300% After This Level

By Prashant Jha
Published August 24, 2021 Updated August 24, 2021
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XRP Regains $1.25 Key Support, Analyst Predicts XRP Could Rally 2300% After This Level

By Prashant Jha
Published August 24, 2021 Updated August 24, 2021

XRP, the sixth-largest cryptocurrency by market cap regained $1.25 support after falling to a daily low of $1.22. The altcoin is currently looking to break past the immediate resistance of $1.35 breaching which $1.50 could be the next level. The altcoin is currently down by 3% from its daily high of $1.30, but the price is expected to soar further as XRP/BTC pair is on the verge of a key breakout.

XRP
Source: TradingView

On the one-day XRP/BTC chart, the price of the sixth largest crypto token was forming an equilateral triangle, and looking for a breakout above the pattern, which can catapult its rise to new highs. The altcoin in the second leg of the bull run could mimic its bullish momentum from 2017 where its price surged over 1,000% towards the latter half of the bull run.

XRP
Source: TradingView

XRP Price Could Surge by 2300% to Reach $20-$30: Analyst

Credible Crypto, a popular Twitter crypto analyst believes a 2017 bull run-like rally is just around the corner and the fact that XRP couldn’t reach its ATH in the first half of the bull cycle makes the possibilities even higher.  The analyst pointed that during the 2017 bull cycle XRP price shot up from $0.27 to $3.30 within a month. He said,

“The biggest gains happen in the last 10% of the bull market. Keep in mind that XRP was trading at $0.22 in 2017 and in one month it went up to $3.30. It went 10X in a mont. Something similar can be expected here. I think if we can break the all-time high within the next few months then we’re easily going to go – 3 to 5X is very reasonable. Again, in 2017 we went 10X. 3 to 5X is easy. $10.00 minimum is where I’l consider taking profits.”

Credible Crypto predicted that if XRP manages to retest its ATH in the coming month, it would see an explosive price growth that could push its price easily to $30.

“We have a ways to go is what I’m getting at here. Again, my targets for XRP as I’ve said many many times, stand at $20 to $30 at the end of this bull cycle, whether that be six months or a year for now.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Prashant Jha
1180 Articles
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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