- Analyst declares altcoin XRP chart highly bullish.
- This boosts expectations for a parabolic price pump.
- XRP shows potential of a 600% price pump to hit ATH targets between $15 – $20.
As the price of BTC and ETH continue to surge and dip between critical support and resistance levels, several bullish analysts look towards popular altcoin assets, looking for signs of massive pump movements. Presently, one analyst declares altcoin XRP chart highly bullish, leading to heightened expectations for a massive parabolic price pump over the coming weeks.
Analyst Declares Altcoin XRP Chart Highly Bullish
The popular altcoin XRP has been expected to be an exceptional asset since its debut, especially as the asset was pumping right alongside BTC and ETH, boasting a market cap in the top 3 ranks. However, due to the SEC stepping in, Ripple’s native asset then saw stagnant and stunted growth. For nearly 8 years, the entity fought the SEC battle until it finally came out victorious, leading to greater clarity and support.
Unfortunately, due to the long fight, the price of XRP continued to slip over 7 years, never showing signs of reclaiming its previous ATH. In fact, the asset missed a full bull cycle pump, leading analysts to believe that the asset’s price will surge at a much higher rate in the latest bull cycle. So far, since its victory, the price of XRP surged twice, but has failed to reclaim its previous ATH price set in the $3.8 price range.
Parabolic Price Pump for XRP Imminent
According to one analyst, the XRP chart is very bullish at the moment. The analyst notes that the price of XRP has been going sideways within the range depicted in the post below for roughly 14 months, and this zone has acted as a clear defence every time. It’s been tested and held repeatedly, not once or twice, but many times, which tells us that there is real demand sitting here for accumulation.
The post confirms that XRP ranges don’t persist this long without eventually resolving, and when they do, the move is usually fast. All it takes is a single momentum shift to tip the balance, and once that happens, price discovery will open up very quickly. The analyst concludes that given how compressed this structure is, a breakout toward the end of this month or into next week would not be surprising.
Similarly, another popular crypto analyst and altcoin enthusiast talks about his previous post, highlighting XRP’s coil nearing breakout points. He says that previously, after the structure was formed, prices broke out, climbing over 580% to new ATH prices, but today, there seems to be room for a much greater price surge. Thus, he concludes that the minimum breakout target for this setup is between $15 – $20 XRP prices, which, from here, is more than a pump of 600% away.
