XRP shows potential for significant growth as Bitcoin and Ethereum gain. Currently priced at $2.20, analysts predict it could soar to $27 or even $71.4, following a breakout from key resistance levels. The resolution of the SEC lawsuit and the overall altcoin revival further support optimism around XRP’s upward trajectory.
Ripple’s XRP is capturing attention as Bitcoin (BTC) and Ethereum (ETH) lead a robust rally in the crypto market. Following BTC reaching a staggering $100,000 and ETH surpassing the pivotal $2,000 resistance, the question arises: can XRP join in on this upward trend? Analysts seem convinced that it’s just a matter of time.
Currently, XRP is trading at around $2.20, experiencing a modest increase of 4% within the last day. The cryptocurrency has struggled to reclaim past glories, notably its all-time high of $3.84 reached in January 2018, and its previous peak of $1.96 in April 2021 continues to act as a stubborn barrier.
Market analyst Egrag Crypto has made an audacious prediction of XRP surging to $6.22, eventually climbing to $7.68, and even targeting an astonishing $27. This projection suggests a potential rise of more than 1,100% from its current price. Egrag’s analysis relies on long-term Fibonacci levels and inverse chart patterns, indicating XRP has recently breached a crucial “stratospheric” resistance level, setting the stage for accelerated growth.
In addition, another expert, Amonyx, pointed out the potential of a symmetrical triangle breakout for XRP in late 2024, which previously led to a 500% price surge. He draws parallels to historical trends from 2021, foreseeing XRP possibly hitting Fibonacci extension levels of $27.16 and even $71.4.
The foundational elements for an upward movement appear strong. Ripple is expanding its global footprint with cross-border payment solutions while the ongoing SEC lawsuit regarding XRP’s classification as a security edges closer to resolution, alleviating a long-standing concern affecting its price action. This legal uncertainty’s resolution is vital for attracting institutional investors.
Moreover, the entire altcoin market is experiencing a revitalisation. With Bitcoin achieving critical milestones and Ethereum bouncing back solidly, investors are now turning their attention to altcoins that had previously lagged, making XRP a prime candidate for substantial gains.
Should XRP manage to breach the $3 mark—a level it hasn’t hit since early 2018—it could spark renewed investor interest and lead to rapid price escalation.
Also noteworthy, an analyst has boldly claimed XRP could reach $20 in the near future. Can it really pull off a 10X increase? The unfolding events certainly hold promise for XRP enthusiasts and investors alike.
