XRP Price Eyes Bullish Flag Breakout That Could Put 50% Gains On The Board
Despite recent declines and volatility, one cryptocurrency analyst claims Ripple price A breakout of the bullish flag pattern is imminent. According to analysts, a Successful breakout of this bullish flag pattern It could result in a massive 50% increase in XRP price, bringing the cryptocurrency closer to the all-time high of $3.84 set during the 2021 bull run.
XRP Price Target Sets at $3.6 After Breaking Bullish Flag Formation
XRP price has risen over the past few weeks Bullish flag pattern formedindicating the potential for continued upward movement. According to cryptocurrency analyst Captain Faibik shared On the chart of X (formerly Twitter), XRP is preparing to break out of a bullish flag pattern on the daily time frame chart.
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The bullish flag is widely considered continuation mode. It forms when the price of a cryptocurrency is trading sideways or undergoing a correction and indicates the potential for a strong rise.
On analysts’ charts, XRP is testing the upper limit of a bullish flag pattern, aim to break through it and trigger the next price increase. Captain Faibik predicts that if XRP manages to break out of this bullish flag pattern and sustain above it, it could trigger an impressive 50.22% rise.
Currently trading at $2.2, if XRP is able to rise 50% after breaking out of the bullish flag pattern, its market price could jump significantly to $3.3. This projected target is just 16.36% away from breaking through the $3.84 ATH achieved by XRP during the last bull run in 2021.
further strengthened his confidence XRP’s future price trajectoryCaptain Faibik’s recent forecast doubled the forecast in a previous X post, in which the analyst Prices are forecast to rise sharply XRP is $3.66.
Elliott wave pushes XRP above $20
In another X post, a prominent cryptocurrency analyst is referred to as “CryptoBull” Predictive XRP price could surge above $20 later in this bull cycle. However, analysts also predict that cryptocurrencies may reach short term goals It will reach $13 in the next few weeks.
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CryptoBull’s optimistic prediction for XRP price is based on Elliott Pulsehighlighting their impact on the historical price movements of cryptocurrencies. The analyst revealed that Elliott Pulse waves typically begin after cryptocurrencies experience significant volatility. price breakout.
He further explained that in 2017, five waves of the Elliott Pulse Cycle triggered a price surge from $0.002 to $3.84, a staggering 70,000% increase. Based on this historical trend, CryptoBull predicts that XRP may experience a similar bull rally. He predicts that Elliott’s five pulse waves could trigger a 6,000% increase in XRP price during this bull cycle, pushing it to a new high of $26.
Featured image created using Dall.E, chart from Tradingview.com
