XRP Price Nears Major Converging Point: Analyst Predicts 3,600% Jump To $20

XRP Price Nears Major Converging Point: Analyst Predicts 3,600% Jump To $20
фото показано с : newsbtc.com

2024-5-23 02:00

A crypto analyst has predicted the next price target for the XRP price, noting that the altcoin was nearing a key point that could potentially trigger a major bull rally for the cryptocurrency. 

XRP Price Roadmap to $20

In an X (formerly Twitter) post on May 20, Crypto analyst, Javon Marks forecasted a strong bullish breakout for the XRP price in this market cycle. Marks explained that XRP was steadily approaching a critical converging point, with an emerging Relative Strength Index (RSI) pattern indicating strong underlying momentum for the cryptocurrency.  

An RSI is a technical tool used to measure the speed and change of price movements in a cryptocurrency. It is also used to determine the short-term momentum of a cryptocurrency’s market. 

Sharing a price chart depicting the XRP price movements from 2018 to 2025, the analyst predicts that XRP’s closing converging point and RSI pattern are signaling a massive breakout to new all-time highs. He has projected a “conservative” target that could see XRP’s price soaring between $15 and $20 in the coming weeks. 

Additionally, XRP’s present price actions are displaying a bullish pattern reminiscent of the one observed during its mega rally to a new all-time high of $3.84 in January 2018. Marks noted that for XRP to reach the ambitious $20 price target, the cryptocurrency would have to witness a massive surge of 2,000% to 3,000%, translating to 20X to 36X from its current price.  

Concluding his analysis, the crypto analyst disclosed that all the factors and indicators were pointing towards a potential rise in XRP’s price. However, the exact timing of when this will occur is uncertain.  

More Bullish Projections For XRP

XRP has been drawing significant attention from market analysts, who are projecting increasingly bullish price movements for the cryptocurrency. Despite its struggles to reach the coveted $1, the XRP price has still exhibited some strength as it continues to maintain a price position around the $0.5 mark. 

Prominent XRP supporter and crypto analyst identified as ‘JackTheRippler,’ on X predicts that XRP is poised for an explosive rally after years of accumulation. Sharing a price chart illustrating XRP’s price action from 2017 to 2024, the crypto analyst revealed indicators that suggested a potential rise to new highs. 

Another XRP community member and crypto analyst identified as ‘XRP Captain,’ has also confirmed a potential breakout for the cryptocurrency. He disclosed that XRP’s next target will likely be $0.7 before June 2024. 

At the time of writing, XRP’s price is trading at $0.53, marking a decline of 1.06% in the last 24 hours, according to CoinMarketCap. Over the past seven days, the cryptocurrency has performed relatively well, recording a series of minor rallies that contributed to a 6.67% gain.

A bullish breakout for XRP will require sustained momentum and increased trading activities from investors. Currently, the cryptocurrency’s daily trading volume has not demonstrated significant growth, indicating only a slight increase of 3.25% in the last 24 hours. 

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Источник: newsbtc.com

price xrp → Результатов: 126


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