Crypto analyst Jaydee has outlined a scenario where the XRP price could rise as high as $20 at the peak of the next bull market. According to him, this price level is possible if certain factors are taken into account.
What will facilitate an XRP price increase to $20
Jaydee mentioned in an X (formerly Twitter) after that $20 is a “possible top” for XRP, using market cap as a benchmark. For this to happen, he also noted that there is a structural break on the cards.
However, the analyst isn’t holding his breath for that to happen. He further noted that he would take one profit XRP became overbought on multiple higher timeframes. Interestingly, Jaydee had once expressed skepticism about XRP rising to between $10 and $15. As such, his latest analysis came as one surprise for some of his followers.
In the meantime, crypto analyst Egrag Crypto recently as long as an analysis of the current state of XRP. He stated that things look optimistic on the monthly time frame. He further hinted that a big pump was ‘brewing’, but more moves could come down before that happens. This, he says, will be “enough to frighten the weak hands.”
The analyst also provided insight into how low XRP could fall in another X message. He noted that XRP is currently in a critical zone and a weekly close below the edge of the ascending triangle could cause a price drop to $0.34. On the other hand, if XRP were to close above $0.75, Egg thinks this would be invalid its current setup.
In the meantime, the analyst sees these current dips in the XRP market as an opportunity to do just that collect more tokens as we prepare for the pump to ‘roll into fast mode’.
Token price falls to $0.5 | Source: XRPUSD on Tradingview.com
The bottom for XRP’s current trend
The current belief among several crypto analysts seems to be that XRP is likely to fall further before making a parabolic move to the upside. Crypto analyst Ali Martinez had previously predicted that XRP could fall to $0.34 if it fails to stay above the $0.55 support level (which it failed to do).
Now crypto analyst XRP Shark is too echo almost similar sentiments as he shared his belief that the price ranges between $0.35 and $0.45 could be the best bottom area for XRP’s move to the downside. Once the crypto token drops to that price range, he predicts a “violent move upward” will follow.
As Egrag suggested, this downward move seems necessary to shake out weak hands before XRP makes new highs. Crypto analyst Crypto Rover predicts that XRP will experience a “massive breakout” sometime in March.
Featured image from Coinpedia, chart from Tradingview.com
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