A market pundit believes the struggles XRP has faced in hitting new highs could suggest that it has the golden ticket to a giant leap.
Julius Rose made this assertion on X while speaking on the struggles XRP has faced since 2018. He argued that XRP’s failure to crack the $5 mark over the past 12 years might actually be a bullish sign for the digital asset.
XRP Building Momentum
Rose contented that the inability to breach this price level could indicate that XRP is on the cusp of a major breakthrough, which he likens to holding a “golden ticket” for a massive leap forward.
This point is in sync with the growing sentiment in the community that XRP is building momentum for a significant price surge, despite the prolonged downtrend it has faced. Notably, due to the persistent consolidation, XRP’s monthly Bollinger Bands have remained tight for over a year, an unprecedented period of time.
Market experts believe the breakout from here could be massive. In June, Blockchainedbb, a notable market commentator, spotlighted this sustained consolidation phase that had remained 700 days at the time. He stressed that such consolidation would eventually lead to a massive upsurge.
Meanwhile, Rose’s commentary is not the only voice expressing optimism about XRP’s future. In recent months, several analysts have provided bullish predictions, setting up multiple ambitious price targets.
Bullish XRP Price Predictions
In July, analyst Coin Signal noted that XRP’s monthly candlestick patterns were bullish. The analyst pointed out that XRP’s monthly chart was displaying strong upward signals, setting a target of up to $4 for the asset.
Earlier in May, another market analyst, Casi, predicted that XRP could reach between $8 and $13 after it breaks out of its consolidation phase that has lasted for six years. Casi’s analysis focused on XRP’s historical price movements, particularly its usual consolidation within triangular formations.
In addition to these predictions, another respected analyst, EGRAG, provided a bullish outlook for XRP in July. EGRAG’s analysis, based on historical data, pointed to the potential for XRP to rally as high as $27. The target aligned with the weekly Fibonacci 1.618 level.
Moreover, The Great Mattsby, a well-known market analyst, reiterated his forecast that XRP could reach an ambitious $250 over the next few years. Mattsby supported this claim with a detailed analysis, which he shared in a YouTube video and a subsequent post on X.
In his analysis, the analyst pointed to the tightness of the Bollinger Bands on XRP’s monthly chart, noting that they are currently the tightest they have ever been. Historically, such tight Bollinger Bands have signaled significant price movements.
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.
