XRP Price Prediction: Will it Hit $40? Analysts Weigh In
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Several crypto analysts have compared XRP's current price action to its 2017 bull run, predicting significant gains. Galaxy, for instance, believes XRP could surge to double digits, potentially reaching almost $40, mirroring the 2017 breakout pattern. This prediction is based on the observation that longer consolidation periods often precede larger price movements. Egrag Crypto shares a similar optimistic outlook, forecasting a price range of $27 to $33 in this market cycle, citing the potential impact of XRP ETFs and Ripple's expansion. Raoul Pal, a veteran in the crypto space, also sees bullish potential, identifying a bull flag pattern that suggests a possible rally to $5, a new all-time high. CobraVanguard points to a falling wedge pattern as a bullish indicator, suggesting a potential price increase to $3, although this prediction depends on the pattern's integrity. Dark Defender, using Elliott Wave Theory, predicts that XRP could reach its previous all-time high and ultimately double digits, even suggesting a possible $18 target based on his analysis. Currently trading at around $2.38, XRP's price movement reflects a blend of bullish sentiment and technical analysis, with various analysts pointing to historical patterns and market factors to support their predictions.
(Source: https://www.newsbtc.com/analysis/xrp/xrp-price-mirroring-the-2017-rally/)
