Expert Sees XRP Hitting $220, Citing Previous Surge From $0.002 to $3.84

Well-known market analyst Crypto Bull believes XRP looks to repeat a “bottom, retrace, top” pattern on the monthly timeframe, with a projected surge to an ambitious $220 price.

The analyst disclosed this projection in a recent analysis he shared on X. He cited historical precedence as the foundation of his ambitious forecast, calling attention to a similar trend that XRP recorded in its infant days.

Historical Context

He confirmed that XRP rallied from a low of $0.002 to its all-time high of $3.84 while witnessing this “bottom, retrace, top” pattern during the asset’s bull run. Data from an accompanying chart adds some useful context to the analysis.

Notably, XRP changed hands at a low of $0.002 in August 2013, a year after the XRP Ledger launched XRP as its native token. The chart points out that the $0.002 value was XRP’s bottom price, representing the “bottom” aspect of Crypto Bull’s theory.

Interestingly, XRP registered an initial surge to $0.0614 in December 2013, representing a 2,970% increase from the $0.002 bottom. However, the asset retraced these gains, dropping back to $0.0028 in July 2014. 

Following the retracement, XRP consolidated for over two years, registering higher highs but remaining below the $0.01 threshold. However, another rally ensued in March 2017. This rally persisted until January 2018, when XRP recorded its $3.84 all-time high.

XRP’s journey from $0.002 in August 2013 to the $3.84 high in January 2018 represented an impressive 191,900% increase in less than five years. According to Crypto Bull, this pathway shaped his “bottom, retrace, top” pattern.

XRP to $220

The analyst says XRP is already on track to repeat the full pattern. Interestingly, he emphasized that the asset has already completed the “bottom” and the “retrace” phases, with the “top” pattern the only phase left for XRP to repeat.

Crypto Bull’s chart suggests that the “bottom” of this cycle occurred just before XRP surged to $3.84 in January 2018. Before this historic surge, XRP traded at $0.10 in early 2017. The analyst identifies this as the bottom price of the ongoing cycle.

Furthermore, Crypto Bull asserts that the drop from the $3.84 high represents the “retrace” phase of the current cycle. Note that XRP has continued to trade underneath $3.84 since plummeting below it in 2018. The asset retraced some of the gains from the early 2018 upsurge.

Crypto Bull’s chart suggests that XRP will hit the top following the retracement. The analyst projects an ultimate price target of $220. A $220 price would represent a 219,900% increase from the bottom of $0.10 observed in early 2017.