2024-9-26 00:37 |
The cryptocurrency community has been abuzz with speculation about the future of XRP as it approaches a potential breakout after an extended period of price consolidation.
Notably, popular crypto analyst “Egrag Crypto” has ignited excitement among XRP enthusiasts with a bold prediction of an impending surge in value.
In a recent tweet, Egrag Crypto noted that XRP has been ranging for 540 days since March 13th, 2024, suggesting that bulls are about to breach the asset’s strong accumulation zone between $0.48 and $0.50.
“XRP 540 Days Ranging Since March 13th, 2024! If you’re getting shaken by these tiny moves, you don’t deserve the massive mega pumps that are coming! XRP army stay steady,” he tweeted.
This proclamation comes when the broader cryptocurrency market has been experiencing volatility, with recent downturns followed by swift recoveries. Despite these fluctuations, XRP has maintained a relatively stable price range, which some interpret as a sign of underlying strength and accumulation.
Adding to the bullish sentiment, another prominent analyst, “Jack the Rippler,” pointed out a historical bullish consolidation triangle pattern for XRP. He likened the current phase to a similar one in 2017, which preceded a significant rally. According to him, this pattern could push XRP’s price higher by 2025 if it follows the same trajectory.
Crypto YouTuber, “Matt on the Moon Lambo Channel”, also highlighted that buyers have stepped in following last week’s market downturn.
“Monday’s looking pretty pretty good compared to the blood bath we saw, especially towards the end of last week,” Matt commented on Tuesday, cautioning that while September volatility may continue, the market tends to recover.
Matt also drew attention to XRP’s performance relative to Bitcoin over the past three months, noting that XRP has outperformed most of the top 100 cryptocurrencies since June 7th, 2024. Many in the XRP community see this trend reversal as a positive indicator.
Some experts remain optimistic about XRP’s mega recovery despite the like appeal in the SEC lawsuit.
While some believe an appeal could extend the legal battle and delay XRP’s recovery, crypto lawyer Fred Rispoli dismissed these concerns, expressing confidence that an appeal wouldn’t affect XRP’s performance in the next bull run.
“To those freaking out over possible SEC vs. Ripple appeal: Don’t. There won’t be a ruling until 2026… If Ripple and/or XRP don’t make it now, it’s not because of the SEC’s case…” he stated recently, adding, “I’m still a believer in both the company and the token, and I hope both make it big in this next run.”
According to CoinMarketCap data, XRP traded at $0.59 at press time, reflecting a 1.69% surge over the past 24 hours.
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