Current projections from market analysts suggest sustained growth in the price of XRP against Bitcoin (BTC), with one hinting at a potential 100% surge post-halving.
Market analysts now pay closer attention to the price of XRP. This optimism comes despite the headwinds lurking via the yet-to-be-concluded Ripple lawsuit against the United States Securities and Exchange Commission (SEC).
Renowned market analyst CrediBULL Crypto shared his technical take on the XRP/BTC pair, identifying the duo’s “accumulation phase” inside a larger demand area. This setup is indicative of a move upward, mimicking a related bullish trend historically spotted by the analyst.
XRP and Possible Price Target
For CrediBULL, XRP has what it takes to return 100% gains to investors after the halving event. In the short term, the analyst’s estimate is a 15-20% growth. He noted that if XRP surpasses the next major resistance of 35% higher, a jump to 100% against BTC is possible.
To hint at his conviction, CrediBULL Crypto noted he had topped his position for the fourth time. With the “RSI Divergence” indicator backing his accumulation decision, the analyst is optimistic that a market trend reversal will be just around the corner.
Topped up the $XRP position here for the 4th time- USD and BTC pairings are in sync. Within our larger, HTF zone of demand we now have a lower TF accumulation base formed, a confirmed D3 bull div, and if we close here in about 8 hours we will have a double D3 bull div.
At the… https://t.co/lgJeQfLXvG pic.twitter.com/YV7aelYtwT
— CrediBULL Crypto (@CredibleCrypto) March 18, 2024
To put an actual price target on XRP, market analyst Dark Defender sees a short-term target of $1.33. Should the stellar performance continue, he believes XRP can hit the $1.88 and $5.85 mid to long-term, a projection that aligns with Jake Gagain forecasts.
At the time of writing, XRP price and market cap have recorded a 4.66% jump in 24 hours to $0.6366 and $34,941,520,495. The trading volume has also increased 13.83% in the same timespan to $2,792,777,983.
Other XRP Predictions
A well-known investor in Bitcoin, Davinci Jeremie suggested that XRP is poised for a significant upward movement. The investor cites the possibility of manipulative pumps that could push XRP up to $1.33.
According to crypto analyst Steve Courtney, the XRP Stoch RSI indicates promising momentum. He sees a similar bullish pattern to the one that occurred between 2013 and 2017. The market analyst wonders if the market could experience a similar 58,431% rally this time. If XRP were to witness such a massive upsurge, its current price of $0.6030 would skyrocket to $352.94.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
