Ripple (XRP) is currently one of the most promising crypto coins on the market. The token invites a massive influx of investor and crypto whale attention, indicative of its underlying potential and ability to soar past higher price marks. As XRP hovers around the $2 price mark, one analyst shared how the token can soar past $7 to claim the $8 mark.
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Ripple Analysis: Can It Claim $8? Analyst Says Yes
Ripple is currently one of the most intriguing cryptocurrencies that have attracted a huge influx of investor attention. The token is currently sitting at $2.49, waiting to claim a new high of $3 very soon. In an interesting new development, crypto whales are actively pursuing the tokens that have made the most out of the XRPs recent price dip. The token has recently dipped to hit the $2.22 mark, which compelled massive crypto whales to scoop up a sizable amount of Ripple, amounting to $288 million.
“While $XRP dropped from $2.90 to $2.22, whales bought the dip. They purchased over 120 million #XRP, totaling $288 million!”
As per Ali, a noteworthy cryptocurrency analyst on X, XRP is currently breaking out from a multiyear triangle, which could catapult its price to surge as high as hitting the $8 price spot.
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“To some, $XRP looks overbought! To me, it looks undervalued after breaking out of this massive multi-year symmetrical triangle. Conservative target = $8.40. Optimistic target = $48.12.”
Ali took his prediction up a notch, even adding how the current triangle breakout could even help XRP claim the highly ambitious $48 price mark, provided the momentum allows the token to soar even higher.
Technical Analysis for Ripple
Per CoinCodex, a notable cryptocurrency analytics platform, XRP is on track to stabilize around $2.02 by the end of the year 2024.
“According to our current XRP price prediction. The price of XRP is predicted to drop by -16.71% and reach $ 2.08 by January 8, 2025. Per our technical indicators, the current sentiment is bullish while the Fear & Greed Index is showing 79 (extreme greed). XRP recorded 19/30 (63%) green days with 44.90% price volatility over the last 30 days. Based on the XRP forecast, it’s now a good time to buy XRP.”
The token may, however, hit a new price mark of $3 by April 2025.
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