A close above $2.3 could cement a double bottom pattern for XRP.
Analyst sets next bull targets for XRP at $2.5, $2.65, and $3.
He says if XRP bulls hold $2.07 critical support, then XRP will remain bullish.
Ripple’s XRP, alongside the pioneer altcoin ETH and Cardano’s ADA, remain some of the most bullish legacy altcoins that are set to set a new ATH price this bull cycle. With more and more bullish signals appearing across all three assets’ price charts, altseason expectations grow stronger. One analyst says that a close above $2.3 could cement a double bottom pattern for XRP.
Analyst Highlights Double Bottom Pattern for XRP
Several analysts have made Ripple’s XRP a top crypto asset to watch this bull cycle as they expect explosive bullish pumps from the altcoins. This is because the altcoin has a lot of catching up to do and many pumps to make up for. To highlight, XRP missed the last two bull cycles due to its battle with the SEC. These legal hearings set the asset back seven years in terms of price action.
In detail, the 7-year-long brutal battle with the SEC meant a stunted pump and 7 years of declining price for XRP. This was very unfortunate, as the altcoin was on par with BTC and ETH and was expected to hit much higher ATH targets by this time in its historic cycle. This, paired with the fact that Ripple never stopped building and continued to make bullish partnerships with other strong players, makes XRP a highly potent altcoin.
Now, since XRP and Ripple’s victory over the SEC, the price of XRP has pumped parabolically twice. This has led many analysts to believe that the previous two pump cycles have already played out, meaning that only one more bullish pump is waiting for XRP during this bull cycle. In contrast, other analysts believe XRP could pump up to 2 and 3-digit prices this bull cycle alone.
XRP’s Next Bull Targets
So far, out of all the bull target predictions and ATH expectations for XRP, one of the most bullish targets remains to be $99. In comparison to that, other ATH predictions vary between $5, $10, to $12, and $27. While it is entirely unknown how much XRP could pump this bull cycle, all speculations do point to one main factor: that the price of XRP will pump to higher ATH targets in the coming months ahead.
As we can see from the post above, this analyst believes that a close above the $2.3 price on the 3-day timeframe and above the 21 EMA will confirm a double bottom pattern for XRP. This would open the door to potential targets around $2.5, $2.65, and $3. The analyst concludes by saying that as long as XRP bulls hold and defend the critical support at $2.07, then bullish momentum remains intact. Read MoreAltcoin News, News, NewsNow, Altcoin, Altseason, Bullish, Crypto market, cryptocurrency, Ripple, XRP
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