XRP Captain predicts XRP could surge to $57 in the next bull run, driven by increased utility and a favorable outcome in the ongoing SEC lawsuit.
The market watcher’s analysis on X presents a compelling case for XRP’s involvement in the next bull run. He highlights historical price trends, potential future targets, and key factors that could drive XRP’s performance.
He presented a price chart of XRP from 2013 to 2024, showcasing notable peaks and troughs that reflect substantial volatility. The chart features an upward channel delineated by two yellow curved lines, suggesting a long-term bullish trajectory. These lines have consistently served as robust support and resistance levels.
#XRPcommunity Dont Think #XRP Is Going To Miss Bullrun. Just Wait For Utility To Kick In & Lawsuit Coming To End.
{ 57$ #XRP Is The Minimum Target For This Bullrun }. Most Of People Will Sell #XRP Around 10$. pic.twitter.com/V6czkhRnmx
— XRP CAPTAIN (@UniverseTwenty) July 11, 2024
Aiming for a 11,745% Surge?
XRP CAPTAIN’s analysis points to several factors that could propel XRP into the forthcoming bull run. The growing utility of XRP, through increased adoption and use cases, could serve as a significant driver.
Additionally, the resolution of the ongoing SEC lawsuit is expected to positively influence market sentiment. The lawsuit, once settled, could remove a major uncertainty hanging XRP. Notably, XRP has not recorded as much institutional adoption as pp1
The analysis sets a minimum target of $57 for XRP during this bull run, implying a dramatic increase from current levels, particularly a 11,745% rise.
However, XRP CAPTAIN also notes the likelihood of substantial selling pressure around $10, a psychological barrier and a potential resistance point. This could create temporary resistance as investors lock in profits at this level.
Skepticism on $57 Target
Community reactions to XRP CAPTAIN’s analysis vary widely. JD suggests the upward curve should be adjusted lower on a logarithmic scale. However, he concedes that if the structure breaks with a confirmation candle on higher time frames, prices could exceed current expectations.
Another analyst is more skeptical, dismissing the $57 target and focusing on even higher long-term goals. He expresses willingness to hold out for more substantial gains. Conversely, one community member questions the impact of utility on XRP’s price and asserts that the lawsuit’s conclusion, already in the final stages, will not significantly affect the price.
Wealth Advisor Predicted 1,000X
Despite the excitement surrounding XRP’s previous 20% spike above $0.74, it has underperformed relative to other assets. After hitting $0.6685, XRP saw an 8% drop below $0.60. Nevertheless, the occurrence of a golden cross on the daily chart, with the 50-day EMA crossing above the 200-day EMA, also signaled potential bullish momentum.
Elsewhere, U.S.-based wealth advisor Mickle projected a 1,000X price surge for XRP, encouraging market participants to hold onto their investments. He recalls the period between 2014 and 2017 when XRP traded below $0.01, characterized by low volumes and sideways movement. Despite widespread skepticism during this stagnant phase, XRP eventually soared.
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.
