The crypto market has seen its share of bold predictions, and XRP is no exception, with experts setting daring price targets.
Several analysts have recently outlined ambitious price predictions for XRP, suggesting it could soar to $150, $333, or even $587. These projections are based on distinct technical analyses, each highlighting potential catalysts for such significant growth.
XRP to $150
Last month, market analyst Javon Marks noted that he sees a potential for XRP to achieve a dramatic increase in value. According to him, this dramatic increase could lead to a $150 price.
Notably, Marks’ analysis stemmed from XRP’s price history and a technical pattern that has developed over several years. After reaching its all-time high of around $3.3 during the 2017-2018 bull run, XRP entered a lengthy consolidation phase.
Marks pointed to this descending triangle as a key factor. Within this larger pattern, a smaller symmetrical triangle has formed, indicating a tightening of the trading range. Marks believes this setup suggests a breakout is near.
The recent test of the descending triangle’s upper boundary could signal the start of a significant upward movement. Should XRP break out as Marks anticipates, the price could surge by over 41,000%, potentially reaching $150.
XRP to $333
Also in July, another analyst, Dark Defender, set his sights on an even higher target of $333. Dark Defender, who previously predicted price levels of $3, $5, and $18, believes these milestones are just the beginning.
His analysis was based on XRP’s ability to break through key resistance levels, which he argued could pave the way for much higher valuations.
Despite some skepticism from the broader market, Dark Defender maintained confidence in his $333 prediction. He pointed out that reaching this level would require XRP to overcome significant resistance and maintain its upward momentum.
However, with a circulating supply of 55.9 billion tokens, achieving this price would imply a massive market cap. This raised questions about the practicality of such a target.
XRP to $587
Meanwhile, the most daring prediction came from a Bitcoin analyst known as Flash, who forecasted on July 24 that XRP could rise to $587.
Flash based his prediction on an analysis of XRP’s weekly chart, which has shown a symmetrical triangle pattern forming since the peak of $1.96 in 2021. He argued that XRP is currently breaking out of this pattern, as evidenced by the formation of larger green candles on the weekly chart.
Flash suggested that this breakout could lead to a nearly 100,000% increase in XRP’s price, driving it to $587. This prediction met pessimism among market participants, as such a price surge would be unprecedented.
At the reporting time, XRP currently trades for $0.6009, struggling to maintain a position above the $0.60 price territory amid market uncertainty.
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.
