Ripple (XRP) is known for its exclusive cross-border payment functionalities. The token has gained significant market attention and is now dominating the charts across the board as its ETF developments continue to change the market pace. The token’s gigantic popularity continues to compel experts to project how high the token may eventually surge. Some experts claim that XRP may hit $20, while others claim the token has the power to hit $100 in no time. But what do the technical platforms have to add to that? Can XRP truly soar past these numbers in due time?
Also Read: Bank Of Russia Hints At Using XRP For Cross-Border Transactions
XRP Projections: Experts’ Opinions
According to Egrag Crypto, XRP’s chart is now brewing a new momentum. This momentum allows the token to beat all odds, signaling the token to hit $23. Explaining it in depth via X, Egrag Crypto claimed that the XRP price path has been following a bullish trajectory since 2013, with the third cycle top making its appearance in the form of a bull pennant in the near future.
“#XRP – $3.65 is the Valhalla Gate Key (mini $12 – max $23) . This is one of my favorite charts, and it is my go-to MACRO chart for navigating #XRP’s next move. The beauty of this chart? It locates cycle bottoms, mid-cycle tops, and cycle tops. Cycle 1 (2013): A clear cycle top followed by a mid-cycle top. Cycle 2: Mid-cycle top, then the formation of the most bullish setup, touching the blue ribbon and confirming the cycle top. . Alert: In 2021, #XRP showed a mid-cycle top; I don’t consider it a separate cycle. . Cycle 3: #XRP touched the upper green ribbon and formed a mid-cycle top, producing an incredible bullish pattern: The Bullish Pennant. ”
Another leading expert, Zach Humphries, has shared how XRP ETFs combined with the bullish market inflows may propel XRP to hit $100 in the near future.
The Technical Timeline: Highest Price Threshold
According to CoinCodex XRP Stats, Ripple may surge as high as $18 by 2050, as its chart is indicative of the technical overview supporting the $18 price threshold.
“XRP would need to gain 4,501.42% to reach $100. According to our XRP prediction algorithm, the price of XRP will not reach $100. The highest expected price our algorithm estimates is $18.77 by 2050.”
However, one must note how cryptocurrency markets are subjected to intense volatility; hence, discretion is advised before making any investment-related decisions.
Also Read: Time To Hold, Buy, or Sell XRP Now? Here’s the Analysis
Credit: Source link