XRP Expected to Reach $8 But Not Double Digits This Cycle
Chart technician “Charting Guy” analyzed XRP's price trajectory, predicting a climb towards a cycle peak of approximately $8. Key points include:
- XRP is projected to move quickly to the $3 area, then $4.20, before reaching the target of $8.
- Predicted growth from the previous low of $0.28 suggests a 2,757% increase by hitting $8.
- No expectation for double or triple-digit prices this cycle; such estimates are deemed unrealistic.
- Current price stands at $2.33.
Despite acknowledging potential future valuations linked to Ripple’s goals in cross-border transactions and CBDC integration, he emphasizes that these scenarios are unlikely in the current market phase.
Technical indicators show XRP maintaining key support levels, indicating a constructive medium-term outlook despite short-term volatility. A potential retest could drop XRP below $1.90 before resuming upward momentum.
The analyst advises caution against chasing exaggerated price targets, advocating for realistic trading strategies based on data rather than speculation.
