Amid an over 340% gain in the past 30 days, XRP has stolen the spotlight in recent weeks, with market analysts expecting further upside.
While an asset jumping over 300% in a short time can often spark broad expectations of significant corrections, many still believe that XRP has significant gas left in the tank.
An Explosion Waiting to Happen?
“Love it or hate it, the XRP explosion will begin unexpectedly,” prominent XRP influencer “Amonyx” asserted in an X post on Sunday, December 8, surmising the bullish sentiment surrounding the asset.
Along with this statement, Amonyx shared a chart showing that despite the latest rally above $2, XRP has traded within a range over the past seven years when viewed from a larger timeframe, particularly over a 1-month period.
Data confirms that XRP slipped into this range after it soared to claim the $3.31 all-time high in January 2018. The chart, which the analyst presented to tickle the fantasy of XRP holders, suggests that XRP has unlimited upside potential should it break above the range.
Charts and views like this around XRP are not new, as core proponents and ‘permabulls’ have long prophesied that the asset was due for a face-blistering run. Still, many believe this time is different, as prominent analysts are also sharing these significantly bullish views.
XRP to $20?
Recently, crypto analyst “BarriC” suggested that XRP is getting ready for another leg up with a potentially astronomical target.
For context, XRP is trading at the $2.40 price point at the time of writing, representing a 4.8% decline in the past 24 hours. A price jump to $20 will represent an almost 1,000% gain from current prices.
Still, BarriC has suggested that the price target could be even higher if recent bids for XRP ETFs get the SEC’s green light in 2025.
XRP’s recent rally comes as the dark regulatory cloud that has long hindered its prospects appears to be clearing, with the broader crypto industry anticipating more friendly conditions under the incoming Donald Trump administration.
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.
