Crypto analyst Tom has stated that this is a projection XRP rally to $21.5 is not a gamble and will definitely happen. This came as he revealed that a measured move is coming for the altcoin, which will send the price towards this target of $21.
Measured XRP eyes move to new ATH of $21.5
In one X messageTom said XRP will see a measured move to a new all-time high (ATH) of $21.50, with this price target also being his second take profit zone. The analyst revealed that he held XRP when the token was trading at $0.30 and held it until it reached $0.30 his current ATH from $3.84.
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Now the analyst is once again holding the token, aiming for higher prices for XRP. He highlighted some positives as the sign considers the $21.50 target, noting that the three-week golden cross has been fired. Furthermore, Tom noted that the current base is a 1:1 fractal of the 2014 to 2017 cycle and that the volume is lower than the bottom of the last cyclenow that the offer is gone.
In another X messagethe analyst reiterated his bullish outlook for XRP, citing the CLARITY Act as a catalyst that could spark a rally. His accompanying chart showed that the altcoin could reach $2.8 in July, which is around the time when the crypto law could be passed. The bill is positive for XRP as it will provide regulatory clarity by classifying XRP as a commodity.
Crypto analyst Michael also echoed it similar sentiments about XRP, stating that a parabolic rally could start at any time. He stated that this will be the biggest breakout of the year as the altcoin has already bottomed out.
XRP Still at Lows Despite Recent Relief Rally
Crypto analyst Egrag Crypto has indicated that XRP has not yet bottomed out despite its recent rally above $1.4. In one X messagehe stated that the weekly chart shows a very interesting decreasing downward structure relative to the 200 SMA. He noted that during the first major cycle trough XRP bottomed about 60% below the 200 SMA. Meanwhile, during the second major cycle low, the token reached about 40% below the 200 SMA.
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Applying the same decreasing downward pattern, the analyst said the next major low could be 20% below the 200 SMA, implying a $0.93 price target. Egrag Crypto stated that this statement was not unreasonable as mature assets typically experience reduced downside volatility and smaller capitulation rates. Such assets would also have stronger macro support structures and more institutional liquidity stabilization.
At the time of writing, the XRP price is trading around $1.45, up over 2% in the past 24 hours. facts from CoinMarketCap.
Featured image from Adobe Stock, chart from Tradingview.com