Financial Analyst Predicts Massive Upcoming Rally for XRP

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JT, a financial analyst with over two decades of experience, shared insights on XRP’s price movement. According to his chart analysis, XRP has remained within a symmetrical triangle on the two-month chart timeframe (since April 2021).

Around that time, XRP rallied to $1.96 before dropping to a cycle low of $0.2870 in June 2022 after the Terra ecosystem implosion. XRP has reclaimed the lost values, and JT’s chart confirms it remained in an uptrend with higher lows.

XRP Continues to Trade Within Symmetrical Triangle

Despite the ongoing uptrend, XRP has remained within a symmetrical triangle. Its attempts to break out have met stiff resistance from the sellers. 

The first attempt at a breakout was in July 2023, when XRP spiked to $0.93 following the favorable court ruling. The second attempt by XRP at a breakout occurred in March this year when it rallied to $0.7449.

Despite XRP’s failed attempts to break out, JT believes it will eventually breach the triangle’s upper trendline before November. He noted that XRP’s triangle is one of the longest-running triangles in the crypto market, having remained unchanged over 25 months.

So, JT predicts the triangle will persist for six months before reaching its breaking point or apex. According to JT, a breakout is close for XRP and will mark the beginning of something big for the token. 

Also, he noted that the MACD indicator is essential to watch to confirm XRP’s next price move. The MACD has declined on the two-month chart since April 2021 after a bearish crossover below its signal line.

With XRP rising to the top of the triangle, JT believes that the MACD could form a bullish signal vital to the uptrend.

Despite JT’s predictions, he did not provide a specific price target for XRP. According to the analyst, the closer XRP gets to the breakout zone, the more compressed and violent its moves become. 

He also noted that the direction of the move is based on how the price breaks. He believes XRP will fall like a stone if it breaks lower. If it breaks higher, it will rally to the moon.

Other Analysts Share XRP Forecasts

Meanwhile, crypto analyst EGRAG also provided a price prediction for XRP with specific price targets. According to EGRAG, the price targets for XRP are $1.96, $2.8, $15 and $66. He noted that this prediction is based on the general liquidity, not the XRP Ledger or utility.

EGRAG identified three impulsive waves that could push XRP’s price to hit $1.96, $15, or $66. He considered XRP’s pumps in 2021, noting that it might result in a rally to $2.8. EGRAG advised his followers not to get shaken if the price rises to the $2.8-$3.5 range and declines massively.

Also, another analyst, CasiTrades, tips XRP to break out of the triangle and rally to the $8-$13 price range. He notes that these projections are mainly speculative, and adjustments might be necessary. 

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