Mikybull, a notable economist and technical analyst, asserts that XRP is poised for a dramatic surge that will continue to catch skeptics off guard.
The seasoned economist voiced this sentiment in a recent update shared on X. Accompanying the post was a graph exploring XRP’s candlestick pattern within a one-year scale.
The graph reveals that XRP was steadily reversing a downward trend that had begun after its sudden and unexpected spike to $0.74 in March, which saw a 20% increase in just a few hours.
Notably, the chart shows that XRP was in a prolonged downtrend before the sudden reversal in March. Mikybull believes that history may repeat itself, as XRP has been in a downtrend since March, setting the stage for a similar dramatic turnaround.
As a result, he boldly asserted that XRP would surprise naysayers in the subsequent days. Indeed, the projected rally materialized, and XRP garnered attention even from prominent critics among Bitcoin maximalists.
At the time of the post, XRP traded at around $0.4744. However, just four days later, it surged to $0.6366, a price point not seen since April. This represented an impressive gain of over 34%.
Indeed, XRP Surprised Doubters
Following this unexpected gain, MMCrypto, a famous Bitcoin maxi, expressed an interest in XRP. While confessing that he is not an admirer of XRP, he noted that he would closely observe its performance for investment opportunities. Indeed, a few days later, he shared a post detailing how he had profited $9 million by trading XRP and other assets.
Likewise, mainstream media outlet Bloomberg also took notice of XRP’s remarkable rise. In particular, it published an article highlighting its emergence as a top performer among the top-ranking tokens.
More Surprises Await Skeptics
In a follow-up update, Mikybull acknowledged XRP’s uptrend, revealing that it had surpassed his short-term target much faster than anticipated. Meanwhile, the analyst hinted that the main event is still yet to come, suggesting that an even more dramatic and intense price surge is on the horizon.
While XRP is currently experiencing a brief cool-off period, Mikybull noted that the cryptocurrency will be headed for the $1 target soonest.
$XRP has cleared our first short-term target🤯
Cool off a bit then it heads to $1. https://t.co/aZ6EuJvJek pic.twitter.com/q0KudpySFu
— Mikybull 🐂Crypto (@MikybullCrypto) July 16, 2024
As of press time, XRP is trading at $0.5985, having slipped 1.21% in value over the past 24 hours. Despite this minor correction, the cryptocurrency still maintains an impressive 30-day gain of over 28% at its current level.
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