Amid the recent market volatility, major cryptocurrencies such as XRP have seen a wave of optimism among investors and traders as several crypto analysts continue to make bold predictions about the altcoin.
While XRP hasn’t seen a huge surge since rallying to its current all-time high in 2017, these analysts believe a similar move could happen in the ongoing bull cycle.
Is XRP about to hit a new all-time high?
In a daring way predictionRenowned crypto expert and trader Xaif, while delving into XRP’s current price action, has claimed that the crypto asset is preparing for a possible significant breakout, signaling renewed strength for a major rally ahead. Xaif made the bold prediction after citing a bullish symmetrical triangle pattern on the index altcoin‘s chart in the weekly time frame.
Related reading
Specifically, this pattern occurs when an ascending line connecting the lows and a descending line connecting the highs meet. They also suggest a consolidation phase before a possible breakout, both positive and negative.
However, in this scenario, the crypto expert has identified an impending massive breakout for XRP on the upside, indicating a possible strong move for the digital asset in the coming days. Analyzing the magnitude of the breakout, Xaif has set its next price target for XRP over the next six months at the crucial $150 level.
Xaif’s prediction seems to have caused quite a stir in the community, as crypto enthusiasts express their strong displeasure with the analyst’s bold prediction. Despite the nature of crypto assets undergoing massive price swings, these enthusiasts have criticized the analyst for his claims that are believed to have a negative impact on the community.
While the community has rejected his projection, Xaif remains steadfast, noting that the token is a real-life utility and that the possibility of
However, Xaif, in another aftermarked that XRP is stabilizing with an ascending trendline between the support range of $0.5650 and the resistance level of $0.6450. Meanwhile, a drop below $0.5650 or the trendline could indicate a negative trend, while a outbreak above $0.6450 would suggest a bullish move.
The Altcoin must break major resistance levels
Whether a move towards the $150 level looms, XRP is poised for a bullish breakout. Another crypto analyst, Fiatleakhas predicted an outbreak altcoin in the short term.
Related reading
According to Fiatleak, the altcoin has been showing strong signs of a rebound over the past two days, due to growing market optimism and recent encouraging developments in the US Securities and Exchange Commission (SEC). legal battle with financial behemoth Ripple.
During the period, the analyst stated that the token fluctuated between $0.57 and $0.65, and other experts believe that if XRP resistance levelsit could soar to new record highs.
Featured image from Adobe Stock, chart from Tradingview.com