Historical Pattern Indicates Potential 2,400% Rise for XRP, Analyst Forecasts $18 Target in Sight
Ripple’s XRP has witnessed a significant drop of 22% from its recent peak of $0.93. Despite this decline, there’s a glimmer of hope on the horizon, as a prominent technical analyst named John has made a bold prediction that could potentially lead to an astronomical 2,400% rise for XRP, pushing its price to $18.
John’s projections hinge on a compelling historical pattern observed on the Ripple daily chart. The pattern is characterized by a series of price dips followed by impressive pumps. According to his analysis, if this pattern continues to unfold, it could result in a massive price surge for XRP.
Following the recent price spike to $0.9380 on July 13, Ripple has experienced a gradual decline, shedding off the gains it accumulated over the past two days. John’s analysis suggests that this dip may persist until XRP reaches $0.52. However, he points out that a substantial surge to $4.30 would follow this dip.
Intriguingly, John foresees another dip from $4.30 to $1.60, paving the way for a remarkable pump to $7.40. But the roller coaster ride doesn’t end there; he then predicts another drop from $7.40 to $6, which would eventually lead to the sensational peak of $18. If this prediction plays out, it could mark a staggering 2,400% increase in XRP’s current value.
Despite the pattern’s apparent accuracy in the past, it remains uncertain whether it will continue to hold true. John has projected that these movements are likely to occur in late September. However, he emphasizes that his analysis is not definitive and merely draws comparisons with historical patterns.
XRP Investor Derrick’s Ambitious Plans
In response to John’s bold forecast, Derrick, a Ripple investor, is eager to capitalize on the anticipated dip. His plan is to earn passive income and boost his XRP holdings during the expected price drop. Derrick is hopeful that this strategy will enable him to ride the price surge past the previous all-time high.
John, surprise! takes a different tack from the trading tactics that many investors may be inclined to use in light of his research. John admits that he does not intend to use such techniques at this crucial moment in the market. He is resolved to hang onto his Ripple until it hits $18 after years of perseverance, without accepting any interim profits.
In a different tweet, John provided further details and revealed crucial Fibonacci levels for the trajectory of XRP in the future. He used the $1.96 swing high as a baseline for these levels. The important levels are $3.30 at the Fibonacci extension of 1.618, $5.50 at the extension of 2.618, $7.60 at the extension of 3.618, and $9.10 at the extension of 4.236. If XRP reaches these levels, he encouraged investors to keep a careful eye on price movements there.
It’s worth recalling that XRP experienced a significant pump to $0.9380 on July 13, following the court ruling by Judge Analisa Torres that deemed XRP not a security. However, the asset has since declined to its current value of $0.7239. Despite the 8.71% drop in the past 24 hours, XRP remains 53% up over the last two days.