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How high can the XRP price go? Crypto analyst presents 6-month forecast
Crypto analysts continue to be extremely optimistic about the future of the XRP price despite its poor performance in the past. However, while some analysts have predicted price targets that, to many, seem unrealistic, others have set more conservative goals. This is the case of crypto analyst Alan Santana, who just revealed his 6-month forecast for the XRP price.
XRP price is ready for a bullish wave
Alan Santana went to the TradingView website to share his latest analysis on the XRP price. This prediction is expected to come to fruition in the next six months as the cryptocurrency market heads towards what it is it should be an explosive bullish rally.
The crypto analyst believes that in this cycle, the altcoin could see its price move much further ahead than other altcoins. “He will probably be one of the first to move… One of the first to move big!” the analyst said. Santana also gives reasons for this, one of which is the waiting period between each of them the bullish wave for the XRP price has passed.
His analysis showed that the altcoin typically saw a gap of 6-8 months between each bullish wave. However, it had been 308 days since the last time bullish wave, which is well over 10 months. This means that the altcoin is more than ready for another bullish wave. He also added, “The fact that XRPUSDT has corrected and consolidated for so long is considered bullish.”
Furthermore, the altcoin has been trending upwards, recording higher lows. This is usually bullish for any asset as it suggests better support for the price as it moves higher. “Higher lows mean the bulls have the upper hand when it comes to the long-term trajectory of this chart,” Santana explained.
XRP can move 280% in 2024-2025
The crypto analyst expects a rather rapid bullish wave for the XRP price and stated that he expects this to happen in 2024 and 2025. The main reason for this is that the accumulation phase because the altcoin is finally coming to an end.
This is a sentiment also shared by another crypto analyst known as U-Copy. According to the analyst, the The XRP price has been accumulating over the past seven years, but it has finally come to an end in 2024, and this end in the accumulation phase will lead to a rally.
While U-Copy expects the altcoin to reach a new all-time high price like this the accumulation phase comes to an end, which would represent a step forward of at least 600%, Santana took a more conservative stance. The analyst expects the XRP price will surpass $1but places the peak between $1.9 and $2. That would mean a 280-300% move from here.
“Once it starts to do well, it will go very strong and for a long time… People will ask, ‘why didn’t I buy when prices were low?’” the analyst concluded.
Featured image by CoinMarketCap, chart by Tradingview.com