XRP is one of the most affected crypto assets amid the general bearish sentiment within the market as the token has been in a downtrend for a while now, struggling between the $0.49 and $0.50 price marks.
XRP could be poised for a huge surge to $10
Although the digital asset is now in a bearish phase, a significant price increase could be in store for the coin. Several crypto analysts are bullish on the token, predicting significant upside that could take XRP to a new all-time high.
One of the popular ones crypto experts who has shared an optimistic projection for the asset is Crypto Patel. Patel shared his latest prediction on the social media platform X (formerly Twitter) with his thousands of followers. The analyst believes that this is finally the “time for XRP to shine” and go parabolic due to past trends.
According to Patel, the crypto asset “didn’t” perform very well alongside other tokens such as Bitcoin. He highlighted that while Bitcoin reached its all-time high in the last bull market, XRP failed to surpass its 2017 peak of $3.30. However, he claimed that this was due to the legal battle between Ripple and the US Securities and Exchange Commission (SEC) over the non-security nature of XRP.
So far, Patel believes that with the SEC’s recent win over Ripple, the ‘floodgates’ may be open for a breakout. He pointed out that the 2017 triangulation, which emerged before XRP went parabolic, appears again on the annual chart.
Patel has claimed that if the coin reflects the 2017 trend, it could be poised for a huge rally. “If the 40,000% pump of 2017 repeats, we could see a stunning $10+ XRP,” he said.
A six-year brutal bear days
The past six years XRP price has undoubtedly accumulated more positive fundamental qualities after consolidating into a triangle range. “This meandering pattern has survived 2,291 – 6+ years of brutal bear days and indicates that Ripple is about to erupt,” Patel said.
As a result, the cryptocurrency analyst expects the price of XRP to rise to $0.90. However, this is expected to happen after a successful breakout from the USD 0.40 and USD 0.50 price ranges.
After that, the crypto expert thinks there will be no doubt about the route to a new peak and a parabolic rise to $10. He further underlined several price targets for XRP, while putting his accumulation range between “40 and 50 cents.”Patel has urged the community to keep an eye out for the digital asset as it may be back on its ‘launch pad’.
At the time of writing, the price of XRP is trading just below $0.50, indicating a 2% decline over the past week. Despite the price drop, trading volume has increased by more than 15% in the past day, according to CoinMarketCap.
Featured image from iStock, chart from Tradingview.com
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