Despite the recent decline and volatility, a crypto analyst has announced this XRP price A bullish flag is on the verge of breaking the pattern. According to the analyst, A Successful breakout of this bullish flag A massive 50% price increase could be in store for XRP, bringing the cryptocurrency closer to the previous all-time high of $3.84, which was recorded during the 2021 bull run.
XRP price target is $3.6 after bullish flag breakout
In the last few weeks, the price of XRP is A bullish flag pattern formedIndicates the possibility of continued upward movement. According to crypto analyst Captain Fabik shared Chart on X (formerly Twitter), XRP is preparing to break this bullish flag on the daily time frame chart.
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A bullish flag is widely known as a Continuity pattern. It is formed when the price of a cryptocurrency is trading sideways or undergoing a correction and indicates the possibility of a strong upward movement.
On the analyst’s chart, XRP is testing the upper limit of the bullish flag pattern, Aim to break above it and trigger its subsequent price rally. Captain Fabic predicts that if XRP successfully breaks out of this bullish flag and sustains the price above it, it could generate an impressive 50.22% rally.
Currently trading at $2.2, if XRP can rise by 50% after its bullish flag breakout, its market price could rise significantly to $3.3. This projected target is only 16.36% away from breaching XRP’s $3.84 ATH, which was achieved during the previous bull run in 2021.
Strengthening his belief in Future price trajectory of XRPCaptain Fabik’s recent prediction doubles down on earlier estimates in earlier X posts, where analysts Predicts a huge price increase Up to $3.66 for XRP.
Elliott Waves to push XRP above $20
In another X post, a prominent crypto analyst identified as “Cryptobull”. predicted That XRP price may rise above $20 later in this bull cycle. However, the analyst also projects that the cryptocurrency can reach a Short term goal of $13 over the next few weeks.
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CryptoBull has based its optimistic XRP price projections Elliot Impulse WavesHighlighting their impact on the historical price movement of cryptocurrencies. The analyst revealed that Elliott Impulse waves usually start after a significant experience in a cryptocurrency. Price breakout.
He went on to explain that in 2017, the five waves of the Elliott Impulse Wave cycle saw the price increase from $0.002 to $3.84, representing a staggering 70,000% increase. Based on this historical trend, CryptoBull projects that XRP may witness a similar bull rally. He predicts that five Elliott Impulse waves could increase the XRP price by 6,000% during this bull cycle, pushing it to new ATHs of $26.
Featured image created with Dall.E, chart from Tradingview.com
