TL;DR
- Analysts are optimistic about XRP’s valuation, predicting significant increases in the near future.
- Certain regulatory developments, among other factors, could propel a significant price rally.
Ripple’s Odds of Hitting $1
Despite increasing significantly during the first half of February, the price of Ripple’s XRP has recently pushed the brakes, currently trading below the $0.55 mark. However, the ongoing trends have not stopped multiple analysts from outlining optimistic predictions.
The X (Twitter) user EGRAG CRYPTO presented a chart today (February 22), according to which XRP might soon pass through four stages (wicking, ranging, consolidation, and bullish) and reach $1.40 in April. The analyst also envisioned a spike above $0.60 before the end of the month.
Dark Defender was bullish, too, suggesting that XRP could surpass the resistance levels of $0.66, $0.77, and $0.91 in the next 60 days. The price projection faced criticism from some X users who claimed that such predictions hardly “ever come to bear fruit.” Dark Defender responded that doubt has been part of the industry for years, reminding about previous successful bets:
“When XRP was 17 cents, and we were calling the $2+ in 2021, people felt that XRP would never appreciate. XRP hit almost $2 at that time. We called it the most significant wave B in crypto. XRP is expected to hit $5.85 as the average point, and people will say the same at that time.”
The popular trader, using the X handle Doctor Profit, also chipped in, calling Ripple’s token the “next shining bull” and admitting that he had entered its ecosystem with a major investment.
Next shining bull is $XRP
Bought 500k recently
See you in 30-60 days!
— Doctor Profit ???????? (@DrProfitCrypto) February 20, 2024
Some of the Previous Forecasts
Earlier this week, EGRAG CRYPTO and Dark Defender made even more bullish predictions. The former maintained that XRP’s next support levels are $0.75, $1, $1.50, and $1.96, expecting the last to be reached by the end of the year.
Dark Defender assumed that the asset’s price could ascend to $2 by mid-2024 and continue rising to an all-time high of $6 in the following months.
Those curious to explore some essential factors that hint about an XRP bull run in the near future could take a look at our dedicated video below:
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