While a top economist notes that XRP is still trading within its six-year symmetrical triangle, other analysts expect a rally due to a breakout from the three-year triangle.

XRP’s underperformance over the past few years has triggered the formation of multiple symmetrical triangles on several timeframes. The largest of these triangles formed when XRP dropped from the $3.31 all-time high in January 2018, having lasted for over six years now.

Besides this six-year symmetrical triangle, XRP has formed two smaller triangles. One of these came up on the back of a collapse from the $1.96 peak in April 2021. Meanwhile, the second began forming following XRP’s slump from the $0.93 high last July. 

XRP Remains Within the 6-Year Symmetrical Triangle 

Notable economist Market Maestro recently stressed that XRP has continued to trade within the six-year triangle, with no breakout in sight yet. His chart highlights XRP’s long-term trend since its all-time high in January 2018. 

$XRP #XRP
The breakout hasn’t occurred yet! pic.twitter.com/yjNS5qdjJY

— MarketMaestro (@MarketMaestro1) September 29, 2024

Market Maestro’s outlook advises caution, as XRP is still consolidating within this pattern. As the price consistently knocks at the $0.60 psychological level, it is close to the upper trendline but has not convincingly broken through yet. 

In the chart, multiple indicators show that despite several attempts to push higher, XRP remains within a larger consolidation zone. Based on Market Maestro’s analysis, XRP will need more momentum or external catalysts to escape the triangle pattern. 

XRP Breaches Smaller Triangle Variations

In contrast, market analyst Mikybull discussed a more immediate bullish sentiment. He focused his analysis on the three-year triangle pattern starting from April 2021 when XRP dropped from a high of $1.96. 

$XRP is breaking out of the 3-year triangle pattern.

You know what that means- explosive rally incoming🚀 https://t.co/y8LqvdwBz5 pic.twitter.com/8QrpYXIJxl

— Mikybull 🐂Crypto (@MikybullCrypto) September 29, 2024

According to him, XRP is in the early stages of breaking out from this shorter triangle. The chart shows the beginning of an upward trajectory, with candles showing a strong push above the triangle’s upper boundary. 

Mikybull predicts that this breakout will lead to an “explosive rally.” He expects this rally to potentially push XRP to a price range between $10 and $20 in the current cycle. The volume and momentum indicators point toward rising buying pressure, suggesting that XRP is gathering the strength for a price surge.

Another analyst, XForceGlobal, presents a similar argument to Mikybull, showing XRP’s breakout from a multi-year BD trendline. He noted that XRP has breached this important level and could consolidate further, with potential retests of the trendline. 

$XRP

Ripple just broke the multiyear BD trendline.

If we get a few more weeks of staying above, and even retesting it, say hello to $7-10, no questions asked. pic.twitter.com/1doWC77UEK

— XForceGlobal (@XForceGlobal) September 29, 2024

If XRP holds above this level for a few more weeks, he foresees a sharp price increase to between $7 and $10. Like Mikybull, XForceGlobal’s analysis leans heavily on the idea that XRP is in the midst of a breakout, with the potential for sustained gains in the medium to long term.

Meanwhile, market analytical channel CryptoBusy called attention to XRP’s short term outlook. Analysts at CryptoBusy confirmed that XRP had broken above the symmetrical triangle that formed when it dropped from the $0.93 high last July. 

This breakout triggered a 9% surge to $0.66 over the weekend. However, the short-term rally has cooled, with XRP now changing hands at $0.6466 at the reporting time. Despite this, the token remains above the pivotal $0.60 psychological level, pivotal for sustained uptrend.

In a viral video in the crypto community, XDC Foundation software developer Quincy Jones offered a thought-provoking take on the potential future value of XRP. 

Jones argued that the token could reach astonishing price levels, depending on the amount of assets issued on its network. He explained that XRP serves as a financial instrument of liquidity between other assets like bonds, stocks, and currencies, which could significantly increase its value as more assets are transacted on its system.

XRP Could Reach $100, $100,000, or even $1,000,000

He emphasized that XRP’s value is directly tied to the volume of equity and debt issued on its network. The more financial instruments it supports, the higher its potential worth. Jones noted that XRP could theoretically reach $100, $100,000, or even $1,000,000, depending on the scale of transactions conducted on the platform.

Using a hypothetical example, Jones suggested that if $100 trillion worth of equity and $500 million in debt were issued on the XRP Ledger, the demand for liquidity could drive its price upward.

Ultimately, Jones stressed that any prediction of XRP’s future price is speculative. He believes the sheer volume of value that could be issued through the network is nearly incomprehensible, leaving XRP’s potential growth open to unimaginable heights.

Although it has been some time since Jones made this bullish commentary, crypto community members continue to resurface the video periodically. Notably, they do so to give XRP proponents more reasons to be optimistic about the token’s future.

Crypto personality Robert Doyle, known as “Crypto Sensei,” recently resurfaced the video and emphasized the role of increased institutional adoption of XRP and the XRP Ledger (XRPL) as key factors for XRP to soar to $100, $100,000, or even $1 million.

Doyle agreed with Jones that XRP’s value is tied to the liquidity of the assets it facilitates. As more assets—like bonds and tokens—are issued on the XRPL, XRP’s value could increase to manage this growing volume.

XRP to $10,000 is “Realistic”

Meanwhile, other ambitious XRP community members have found additional reasons to believe that lofty highs like $10,000 are attainable for XRP.

In a May podcast, crypto founders Edoardo Farina and Versan Aljarrah argued that a $10,000 price for XRP is realistic and “inevitable.” They suggested that central banks and major institutions, like the IMF, might “set” a high initial price for XRP, akin to an IPO, to ensure its effectiveness as a settlement mechanism for large transactions.

They believe XRP’s technology and growing adoption will enhance its liquidity, making high targets like $10,000 necessary for widespread acceptance.

On the other hand, Crypto Sensei projected that XRP could reach $10,000 if adopted by BRICS nations as a reliable settlement currency, reducing dependency on the U.S. dollar.

Doyle also pointed to Ripple’s expanding partnerships with major financial institutions as evidence of XRP’s increasing relevance in the global settlement market.

“God” Inspired $10,000 XRP Forecast

Interestingly, Brandon Biggs, a Christian prophet known for accurately predicting an assassination attempt on Donald Trump, claimed that God revealed to him that XRP would someday soar to $10,000.

In a viral video, Biggs shared that he prayed for guidance on significant investments for the future and felt led to XRP. He stated that God told him XRP’s value would rise in a way similar to Apple stock.

Market Realities of a $10,000 XRP

However, these ambitious XRP forecasts often fail to acknowledge the extraordinary market valuation that would be required to reach such audacious price targets.

Currently, XRP is valued at around $0.58, with a market cap of $58 billion. For XRP to hit $10,000, its market cap would balloon to an astronomical $1 quadrillion. This raises questions about the potential value of other high-value assets in such a scenario.

A recent commentary by Crypto Tank, an XRP community figure, has brought the conversation around XRP’s potential surge to $1,000 back into focus. 

According to Crypto Tank, those who believe such a price point is unrealistic may not fully grasp the vast utility XRP could offer, especially in the global financial system.

The Role of SWIFT in Global Finance

To understand how XRP could reach such unprecedented heights, it is important to examine the current global financial systems and how they could benefit from adopting XRP. 

SWIFT, the Society for Worldwide Interbank Financial Telecommunication, is a cornerstone of cross-border transactions, handling between $5-7 trillion in daily messaging volume. 

Yet, SWIFT’s system only facilitates the messaging aspect of transactions, meaning actual settlement happens through additional processes such as the TARGET2 system in the European Union or FEDWIRE in the United States.

Notably, SWIFT’s current system faces challenges in terms of both speed and cost. Each messaging transaction can cost between $20 to $50, and settlements can take days. 

By integrating RippleNet, the entire transaction process—including both messaging and settlement—could be handled in mere seconds at a fraction of the cost. This shift could save banks hundreds of billions in fees annually.

Why XRP Could Be Poised for High Demand

Crypto Tank argues that as financial institutions realize the significant cost savings XRP could provide, there will be a massive incentive for adoption. 

If just 10% of SWIFT’s current daily volume were settled using XRP, that would already involve approximately $500 billion in transactions per day. 

Currently the cost of a Swift messaging transaction is $20-50 versus pennies with XRP. So banks will be greatly incentivised to adopt RippleNet using XRP to save hundreds of billions in fees per year. Now lets say banks settle just 10% of transactions to start with XRP…

— CryptoTank (@Tank2033js) September 28, 2024

In addition to SWIFT, large financial institutions like JPMorgan, Bank of America, and SBI manage daily volumes of trillions, which further underscores XRP’s potential if it were to capture even a fraction of these transactions.

For banks to use XRP effectively, a deep liquidity pool is required to ensure smooth transactions. Liquidity pools on the XRP Ledger (XRPL) could enable frictionless transfers between digital tokens, central bank digital currencies (CBDCs), and various fiat currencies. 

If these pools hold enough liquidity, they could support the settlement of large-scale transactions. To move $500 billion in value through XRP, for example, the liquidity pool would need to hold approximately $1 trillion in assets.

The Path to $1,000 XRP

The price of XRP is tied to its role in facilitating high-value transactions on the XRPL. Crypto Tank explains that the value of XRP must rise in proportion to the volume it supports on the ledger. 

The circulating supply of XRP currently stands at around 56 billion tokens, but he believes this figure is somewhat misleading. Ripple holds a significant portion of these tokens—about 39 billion—in escrow, and many XRP tokens are held by retail investors, whales, and financial institutions.

Given the limited availability of XRP for liquidity pools, the actual circulating supply used to facilitate transactions could be much lower than reported. Even if just 10 billion XRP were allocated to liquidity pools, the value of XRP would need to be around $100 per token to support a $1 trillion liquidity pool. 

This figure could rise even higher as more financial institutions adopt XRP, potentially driving the price towards the much-discussed $1,000 mark.

XRP is joining the ongoing bull run in the market after previously stalling while other altcoins registered over 50% gains.

Currently, XRP has seen a 2.22% price increase, enabling it to re-enter the $0.60 region. At the time of reporting, XRP reached an intraday high of $0.6081 and has continued to defend the $0.60 level. 

Notably, XRP first traded above $0.60 on September 21 but later dipped to $0.5769. XRP’s value at $0.6081 still places it below the $0.63 price it traded at in late August.

Meanwhile, other prominent crypto assets have reclaimed two-month highs in the last few days, driven by Bitcoin’s recent recovery to $66K. However, XRP is just beginning to capitalize on the ongoing bullish optimism in the market, prompting analysts to express confidence in its next move.

XRP Heading to $0.72

In a recent post on X, a notable smart money financial navigator declared that XRP is headed for $0.72 amid its latest comeback. Other market watchers have echoed a similar sentiment, highlighting market charts that project the $0.70 level as the next major target.

From its current price, XRP needs to grow by 20% to achieve the $0.72 proposed by these analyses.

Last Time XRP Was at $0.70

Notably, XRP last attained this level six months ago when it established a yearly high of $0.74 on March 11. Interestingly, XRP experienced a dramatic pump of over 20% on that day, making it momentarily the best-performing asset. This astounded the crypto community, given that its price actions had been largely lackluster.

During that time, the bullish sentiment in the crypto market was stronger than now, as many assets surpassed their 2021 peak and set new all-time highs, including Bitcoin. Those that did not surpass their 2021 peak reclaimed higher price thresholds last seen three years ago, like Ethereum and Solana.

However, in XRP’s case, it only reached a high below what was seen last year, making it one of the underperforming crypto assets in the first quarter of 2024. A report at the time revealed that XRP lagged behind 61 crypto assets with billion-dollar valuations. 

More recent records indicate that the situation has worsened, with XRP now trailing behind 70 tokens with billion-dollar market caps.

Optimism Remains High in XRP

Regardless of XRP’s movements, analysts have reiterated that it is one of the best coins with high upside potential in this market.

Its recent successful attempt to reclaim the $0.60 level is sparking optimism for a sustained uptrend that could drive its value toward the $1 range in the near term and beyond $5 in the longer term.

XRP has stood out during the current market cycle with expert analysts like Javon Marks signaling a significant bullish trend on the horizon.

Over the last two months, XRP has demonstrated remarkable resilience, attempting a bullish breakout more than six times since late July 2024. This pattern hints at an imminent surge that could see its value skyrocket to the $2-3 range soon.

Initial Analysis

In his initial analysis shared on Sept. 11, Marks highlighted the presence of multiple Hidden Bull Divergences in XRP’s price movements. Notably, despite XRP’s upward push over the past few months, the momentum indicators have not picked up.

For the uninitiated, a hidden bullish divergence occurs when the price of an asset makes higher lows, indicating an ongoing uptrend, while the oscillator (like RSI, MACD) makes lower lows, suggesting bearish momentum. 

These typically suggest a strong upward potential, capable of propelling XRP up by nearly 500% to around $3.31. This potential upsurge goes beyond XRP just reclaiming the $3.3 ATH. Notably, this also points to a breakthrough of a nearly 7-year resistance trend, setting a bullish precedent.

Updated XRP Analysis

In his most recent analysis, Marks confirmed that XRP’s outlook is now more bullish. According to Marks, the repeated efforts at a bullish breakout, coupled with favorable market signals, suggest that a major leap in price might be closer than many anticipate. 

$XRP has attempted a bullish breakout about 6 times or more since late July 2024 and with signals pointing towards a return back above $2-3, a holding and sustained breakout may be a matter of time and closer than many think!

In any moment, we can see XRP completely 'rip'… https://t.co/4XS2uQuRtL

— JAVON⚡️MARKS (@JavonTM1) September 25, 2024

The anticipation builds around XRP’s potential to “rip” higher, sparking a growth trend that multiple investors and traders are currently awaiting. 

XRP Symmetrical Triangle 

Meanwhile, a look the monthly chart shows XRP trading within a symmetrical triangle. This pattern began forming back in April 2021 after a drop from a high of $1.96. Over the past three years, XRP has navigated this triangle, now nearing its apex—a critical point that could indeed trigger the upsurge.

In addition, multiple indicators further points to an imminent uptick. The monthly Directional Movement Index (DMI) reveals the +DI (Positive Directional Indicator) at 24.69. This confirms the predominant buying pressure, although the +DI has seen a slight decline in the past two months. 

However, the -DI (Negative Directional Indicator) stands at 10.87, indicating reduced selling pressure, while the ADX (Average Directional Movement Index) at 40 suggests a strong trend. These figures, moving sideways recently, still support a potential breakout due to the accumulated pressure within the triangle.