NewsBTC
Jan 9, 2025
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XRP Price Set for Potential 50% Gains with Bullish Flag Breakout

Despite recent volatility, a crypto analyst suggests that XRP is set to break out of a bullish flag pattern. A successful breakout could yield a 50% price increase, bringing XRP closer to its previous all-time high of $3.84.

XRP Price Targets $3.6 After Bullish Flag Breakout

  • XRP has formed a bullish flag pattern, indicating potential upward movement.
  • Analyst Captain Faibik predicts XRP is close to breaking out on the daily chart.
  • If the breakout occurs, XRP could rally to approximately $3.3 from its current price of $2.2.
  • This target is 16.36% shy of the all-time high achieved in 2021.
  • Captain Faibik also predicts a price increase to $3.66 based on earlier projections.

Elliott Waves To Push XRP Above $20

  • Analyst “CryptoBull” forecasts XRP may exceed $20 later in this bull cycle.
  • Short-term target for XRP is set at $13 within weeks.
  • Projections are based on Elliott impulse waves, which historically trigger significant price movements.
  • CryptoBull recalls that a similar cycle in 2017 led to a price surge from $0.002 to $3.84.
  • The analyst anticipates a potential 6,000% price increase in the current cycle, targeting new highs around $26.