Analyst Predicts XRP Price Breakout as On-Chain Metrics Turn Bullish
Crypto analyst Random Crypto Pal predicts that XRP is poised for a breakout as on-chain metrics turn bullish. He provided insights into potential price targets for XRP's upward movement.
XRP Price Ready For A Breakout
Random Crypto Pal stated in an X post that the XRP price is set for a breakout, sharing a monthly chart of XRP. He noted that an “explosion is coming,” suggesting a parabolic price rally. The claim is supported by a perfect retest of both trend lines.
The chart indicates that XRP could reach its all-time high (ATH) of $3.84 during this breakout. Since reaching its ATH in 2018, XRP has consolidated for about seven years, with the community anticipating a breakout that did not occur in the 2021 bull run. However, legal clarity regarding XRP's status as a non-security in the Ripple vs. SEC case may influence this situation positively.
Additionally, on-chain metrics indicate renewed interest in XRP. Active addresses on the XRP Ledger (XRPL) have reached a six-month high, and new addresses have surged by over 10%. An increase in daily transactions also reflects active trading among investors, supporting the prediction of an upcoming XRP rally.
Price Could Reach Triple Digits
Analyst Javon Marks suggested that XRP could reach triple digits upon breakout. He referenced historical price gains from the 2017 bull run to support the possibility of XRP hitting $200.
A chart shared by Marks indicates that a breakout could occur by year-end, leading to a significant rally extending to late 2025. Analyst Dark Defender echoed similar sentiments, predicting an XRP bull run from November 2024 to November 2025.
Marks highlighted major similarities between current XRP price action and that of 2017, noting that the current scenario is larger, potentially leading to greater results than those seen in the 2017 bull run.
