XRP 🚀 In the past year, predictions about the price of XRP have been all over the place. This is mostly because of the ongoing legal fight between Ripple and the United States Securities and Exchange Commission (SEC), which has made things uncertain. Despite XRP not doing so well in 2024, many people are still optimistic. One analyst even thinks that the long period of saving up XRP might finally be coming to an end.
Crypto analyst U-Copy recently shared their prediction for the XRP price on X (formerly Twitter). They posted a chart showing that XRP has been in a 7-year period of saving up, and this trend is expected to finish soon. According to them, this could lead to a rise in the price of XRP.
XRP
The crypto analyst pointed out that XRP is currently forming a triangle along the accumulation trend, which has only happened once before in history. The first time was between 2013 and 2017, when the XRP price saw a long, slow accumulation. But at the end of this saving period came the big win: the price surged from around $0.005 to $2.5 in just one year. That’s almost a 500,000% increase!
Seeing how the price reacted last time, the crypto analyst expects a similar response this time. This current accumulation started in 2018 and has continued until 2024, nearly twice as long as before. This could mean a huge rally is on the way.
U-Copy explains that this accumulation trend will finish in 2024, possibly sparking a rally. This is interesting because many people expect the Ripple vs. SEC battle to end this year, and investors think the price will go up if that happens.
Where Is The Price Headed?
While the crypto analyst didn’t provide an exact price target for where XRP might end up, based on the rally from 2017 to 2018, it’s expected to hit a new highest-ever price. This could mean reaching around $3 or more, which is a 600% increase from its current price of $0.5.
The analyst did give investors a timeframe to keep an eye on as the market improves. They highlighted May 15 to August as important months, spanning three months, when this rally might kick off. “I don’t know the exact target price, but things could get really big during this Bull Cycle up to December,” the crypto analyst noted.
⚠️Warning😒
“I’m not your financial advisor ✅. I’m just sharing my own knowledge. Please do proper research before investing. Thank you. 🙏🏻✅”
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