Crypto analyst predicts major XRP ‘pump’ coming soon
Ripple Lab’s XRP is off to a sleepy start in 2024. That could change quickly according to a crypto analyst that is predicting a major pump coming soon. Let’s dive into his XRP prediction to see how quickly this could take place.
Table of Contents
XRP overview
According to crypto analyst XRP whale on X, key support levels were recently hit by XRP. The support he was looking for happened around the .50 levels.
After this key back test, he thinks a pump is incoming for XRP holders.
Ripple’s monthly chart
Let’s take a look at Ripple’s monthly chart to get a feel for this level of support — and if his forecast is correct.
XRP has been off to a sleepy start in 2024 – dropping from the .62 range to the .50 support area.
However, it’s not just XRP that’s been hibernating to start the year. The similarity between XRP’s chart and Bitcoin’s chart is striking.
As we can see — the charts are nearly identical — the slight difference is BTC has been faster to recover.
So, will XRP pump in 2024? Let’s dig into some technical analysis to look at a few scenarios.
Our first XRP technical analysis comes from 25hoursawake on X, who notes that a nice wedge is forming on Ripple’s chart.
This three-year consolidation is coiling up nicely and does indeed like it could breakout soon.
How long will it take XRP to reach $1.00? That seems to be the question many XRP holders are asking.
But before hitting $1.00 — Ripple needs to find key support at the next PT of 0.65. Once hit — we are forecasting a small pull back to 0.60 — followed by a bounce to the 0.70 range.
Our 2030 XRP price prediction is still on track — as we project Ripple to have a strong 2024, with a potential high of $1.80.
If we’ve learned anything from the past five-plus years in crypto – it’s that markets can move seemingly overnight.
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Mega-bullish XRP forecast
In one of the most bullish XRP predictions yet – Cryptollica on TradingView forecasts Ripple to have its best year yet in 2024.
He takes us back all the way to 2014 to identify similar patterns from Ripple’s chart. As we can see, range 3 to 5 in his chart show a downtrend that ends in early 2024.
From there, we get a nice leg up and eventually a mega pop late in the year.
Stepping away from technicals, it’s clear that XRP is well positioned to be a key player in the digital space.
DarkDefender on X is also flagging a potential breakout for XRP – citing the next psychological level to target is around 0.60.
Should you buy XRP now?
Only you can answer that question, anon! But we do agree on the technical analysis that XRP is bound to rip soon. As of writing this – we do not own XRP in our main portfolio but it’s now officially on the watchlist.
And with all crypto and stocks – the markets can turn sour quickly. Be sure to DYOR (do your own research) and consult a licensed professional prior to making any investments.
