XRP trades at $0.5037 with barely 1% growth in the last 24 hours. Amid the passive trend in the market, a prominent XRP analyst projected a daring bullish outlook for XRP.Â
In a recent tweet, chart analyst XRP CAPTAIN argued using the historical pattern XRP has exhibited over the past nine years.
XRP to $100 or $130?
The expert believes XRP hitting a three digital figure in the upcoming bullish trend is feasible. In particular, he noted an impeding breaking. He concluded that XRP reaching $100 to $130 beyond 2024 would not come as a surprise.Â
In his words:
“Imagine the magnitude when this breakout happens? I Won’t Be Surprised If XRP hits $100 to $130 In the Next Bull run.
Can You Imagine The Magnitude When This Breakout Happens???? I Won't Be Surprised If #XRP Hit 100$ To 130$ In Next Bullrun???. #XRP Consolidation 2014 To 2017 VS 2018 To 2024. Full Throttle #XRPHolders #XRPCommunity pic.twitter.com/gm9hLiqh6M
— XRP CAPTAIN (@UniverseTwenty) September 3, 2023
Mathematically, XRP growing to $100 from its current price would imply a 1,9718% growth. Hitting $130 denotes a similarly astronomic growth of 2,5711%.Â
XRP 6-year Symmetrical Triangle
Notably, the analyst presented a market chart illustrating XRP’s performance since 2014. At the time, the digital asset traded at a significantly low value, well below a cent. According to the chart, the XRP market was predominantly influenced by bearish trends from 2014 to 2017.
However, the chart vividly depicted XRP’s remarkable shift to a significant bullish rally in 2018 following a crucial price convergence. Notably, XRP surged to an all-time high of $3.84 in 2018, a remarkable leap from its below-one-cent value in 2014. This astounding increase represented an exceptional growth rate of over 1,000%.
While XRP later saw a bearish trend, the exact historical pattern is playing out again now that XRP trades around $0.5. In other words, XRP may be seeing a similar upsurge, like in 2018 when it reached a new all-time high from below a cent.
The analyst is projecting that XRP could surge to $100 or $130 in the coming bull cycle. Where the prices materialize, it would mean XRP grew by at least 200 times.
The analyst provides a symmetrical triangle for XRP ranging from 2018 to 2024. The weekly chart provided by the analyst shows that XRP is Consolidation, and a breakout is possible in 2024. This breakout from a 6-year symmetrical triangle can take XRP $100 or $130.
Interestingly, XRP CAPTAIN is not the only analyst with a significant bullish outlook for XRP. As The Crypto Basic reported, a top analyst argued that XRP could hit $10 in the anticipated bullish rally.
It is worth mentioning that crypto market participants are always advised to do due diligence before investing in any cryptocurrency.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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