A crypto analyst has released a new XRP price predictionA potential breakout prediction that could see the major cryptocurrency skyrocket to $4.9. With the formation of a classic black flag pattern and the 1-day 50 moving average (MA) acting as a bullish catalyst, the analyst is increasingly confident that XRP will reach a new all-time high (ATH). In 2025.
How 1-day 50 MA will push XRP price to $4.93
The MA of 50 days is a technical indicator used to track the average closing price of a cryptocurrency over the last 50 trading days. A TradingView crypto analyst, Dr. According to Dovetail, he has a 1-day 50 MA indicated by the orange line. XRP price chartA bull flag has risen to the lower limit of the pattern.
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the analyst suggested The price action of XRP, which is in the consolidation phase after its big pump, started Formation of the classic bull flag pattern. This bullish continuation pattern usually occurs after a strong upward move, followed by a price correction that leads to a consolidation.
Historically, when a cryptocurrency converges near a strong moving average such as the 1-day 50 MA, it indicates readiness for a Price breakout Looking at his technical chart, the 1-day 50 MA Dr. Dovetail plays an important role in analysis and rapid XRP price prediction. The analyst believes that this moving average could push the XRP price out of its consolidation nest. Next speed goal.
Based on a confluence of technical patterns and indicators, the dotted ascending line in the analyst’s XRP chart indicates a potential price target of $4.93. Dr. Dovetail increased its prediction, highlighting that XRP could reach this ambitious all-time high before February 2025.
The XRP price chart also indicated a volume bar indicating relatively stable activity during the cryptocurrency’s consolidation phase. In addition, the Stochastic Relative Strength Index (RSI) The bottom of the chart suggests that XRP may be oversold, supporting the possibility of a breakout.
While Dr. While Dovetail admitted that his predictions were not financial advice, the TradingView analyst expressed confidence that the current technical setup in the XRP chart could push its price to $4.93 this year. This target represents a 105% increase from XRP’s current market value, marking a significant step up from its consolidation phase.
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Update on XRP price analysis
According to data from CoinMarketCap, XRP price Currently trading at $2.41, representing a significant 8.79% increase over the past week. Its price is getting deep into the action and running Integration phaseXRP experienced a severe decline after rising from $0.5 to $2 in November 2024.
In the past few weeks, cryptocurrencies have Struggled with instability As it is to reclaim its all-time high of $3.84 achieved during the 2021 bull run. Nevertheless, XRP still holds its position The third largest cryptocurrency By market capitalization.
Featured image created with Dall.E, chart from Tradingview.com
