Analysts Predict Major Surge for XRP Despite Slow Growth

Even though XRP is currently showing sluggish price movement, many market analysts remain hopeful about its potential.

Various experts are forecasting significant upward trends for XRP , pinpointing critical technical indicators and patterns that could signal a price increase.

A cryptocurrency analyst, known as ‘The Moon Carl’ on X (formerly Twitter), has raised concerns about when XRP might hit new highs.

Carl highlighted that XRP has been trading within a symmetrical triangle pattern for over four years.

This pattern, formed by converging trend lines, usually signals a period of consolidation that can precede a substantial price movement.

XRP has been trading between $0.50 and $0.60 for several months. Its last significant peak was in 2018, reaching an all-time high of $3.84. Analyst Alex Clay pointed out that XRP is starting to break out of this long-standing triangle pattern after 2,227 days of accumulation.

During this time, XRP faced legal issues with the U.S. Securities and Exchange Commission (SEC).

Despite these challenges, Clay is optimistic about XRP’s future. He predicts mid-term price targets of $1.2580 or $1.5700, and a long-term target of $3.1.

As of now, XRP remains stable around the $0.60 level. Although its price growth has been slow, analysts continue to hold positive expectations. Another analyst, ‘XRP Captain,’ forecasts a significant rise for XRP, with a minimum target of $22. He believes the prolonged symmetrical triangle pattern indicates that XRP is poised for a major bullish breakout in the near future.