A crypto analyst has shared an optimistic outlook for the XRP pricethe original token of the XRP Ledger (XRPL)forecasting a potential rally of up to 10,400% with a $60 price target. The analyst has also indicated when to expect this expected price increase.
XRP Price Will Reach $60 With Expected 10,400% Rise
In an X (formerly Twitter) after on August 12, crypto analyst Brett Hill expressed bullish optimism about the future price of XRP. The analyst suggests that XRP could be on the verge of a major outbreakpotentially pushing it to new record highs.
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He shared a map tracking Price movements of XRP from March 2023 to 2025. Based on his analysis, the analyst predicts that XRP is about to reach a price range of $50 to $60, which represents a significant increase of 10,400% from its current value.
As he sketches his bullish forecast for XRPHill pointed to XRP’s weekly Moving Average Convergence Divergence (MACD). The MACD is a trend following momentum indicator used to identify entry and exit points for crypto traders.
The analyst revealed that this unique indicator is currently indicating a strong indicator bullish momentum for XRPsolidifying the potential price increase to new record highs. He further emphasized a main support level at the $0.5403 mark.
Hill has predicted that XRP could potentially rise between $50 and $60 if it remains above the aforementioned support level. With XRP currently trading at $0.57, well above the crucial support level, this could mean that the $50 to $60 price target could be achievable in the coming weeks.
The analyst has also confirmed this as long as XRP is holding this support levelit is well positioned for ‘big gains’. Despite his rather ambitious and bullish forecast for the cryptocurrency, Hill warns that investors should beware of a resistance level at $0.6836.
He revealed that if XRP can break this resistance levelcould potentially create powerful upward momentum that could send the price even higher.
Analysts Remain Bullish on XRP After Legal Victory
In an earlier X post, Hill predicted that the XRP Ledger is poised for explosive growth after the recent Ripple legal victory through the US Securities and Exchange Commission (SEC).
On August 8, the South District Court of the United States (US) issued a ruling has fined Ripple $125 million in civil penalties for violating securities laws by selling XRP to institutional investors. Brad Garlinghouse, CEO of Ripple sees the settlement award as a significant victory, as the SEC had previously requested a settlement of as much as $2 billion.
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Following the Court’s rule, analysts and market observers have expressed optimistic prospects about the future value of XRP. Crypto enthusiast, Amelie revealed that XRP’s new regulatory clarity would inject trillions of dollars into XRPL projects.
Furthermore, a crypto analyst has identified it as ‘CryptoBull’ on X projected a key bullish price target for XRP. According to the analyst, XRP could rise anywhere between $13 and $46 within the next 1 to 18 months.
Featured image created with Dall.E, chart from Tradingview.com
