- The XRP price chart seems to be mirroring the same pattern as during its bull spike in 2017.
- Analysts note the same pattern in the price charts now expecting a 60,000% price pump.
- XRP analysts and holders debate how far the price of XRP will go varying from $20 to $9,761.
The crypto community waits patiently for Bitcoin (BTC) to regain its full bullish momentum as altcoins show bullish signs instead. Amongst these bullish altcoins is VeChain (VET), WadzPay (WTK), JasmyCoin (JASMY), Cardano (ADA), and Ripple’s XRP.
In particular, the XRP Army is very bullish and is expecting a phenomenal price spike for XRP very soon. As the Ripple vs SEC cases seems to be nearing the final chapter of the battle, XRP’s price charts show a repeating pattern supporting the possibility of a parabolic price spike.
According to one crypto analyst XRP has been forming a large triangle that is finally complete. This could trigger a 60,000% price spike caused by a narrow oversell of the Bollinger Band. More importantly, this user believes it will take 21 days for the parabolic leap to arrive.
He draws an exact moment in history when XRP hit its current ATH record in 2017 when the same event occurred. This event was the closing of the large triangle formation after which, 21 days later XRP pulled a 60,000% price pump.
Now, the analyst observes the closing of the same triangle close pattern which shows the same potential for a 60,000% price spike. He says according to the linear charts, it has been 3 days since this close which means that the pump will arrive 18 days from now.
Meanwhile, another user adds that there is strong evidence for XRP to hit $20 first due to five main reasons. The first being that the asset has strong support at $0.40-$0.50. Adding to this is the Bollinger Band scenario, the moving average being higher than the current XRP price, low volume during consolidation, and historic rallies after consolidation.
One analyst even goes so far as to say that XRP will hit $9,761 on August 1, 2024. No doubt the XRP Army and the greater crypto community are both eagerly awaiting to see how this parabolic leap will take the price of XRP and if it will indeed arrive in the next 18 days.
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