A top analyst now predicts two XRP timelines that can see the price possibly reach up to $4.50.
Ben Armstrong, widely recognized in the cryptocurrency space as BitBoy, has recently shared his insights regarding the potential future price movements of XRP.
Suggesting two possible timelines for when this digital asset could reach the notable price of $4.50.
After experiencing a surge that allowed XRP to break the $2 threshold in early December.
The cryptocurrency has since encountered a significant barrier, remaining trapped within a specific price range and struggling to maintain upward momentum.
Just a few days ago, XRP revisited its previous peak from 2021, hitting $1.90 before making a recovery back to around $2.
Despite this rebound, XRP has not yet gained the necessary traction to push higher, leaving many holders anxious for a catalyst that might stimulate a more substantial price movement.
In light of this situation, influential figures in the market, including BitBoy, have sought to inject some optimism into the conversation.
He posits that XRP may be on the cusp of a breakout, predicting that it could see a rise to $4.50 by the end of this year—only two weeks away.
However, should this optimistic scenario fail to materialize, BitBoy suggests that this price milestone could be achievable by January 2025.
This bold prediction has generated a mix of excitement and hope within the XRP community, often referred to as the “XRP Army.”
At the current price of $2.34, a rise to $4.50 would represent a significant increase of approximately 92.3%, capturing the attention of both long-time holders and new investors alike.
Yet, not everyone shares BitBoy’s enthusiasm.
Some market critics have voiced skepticism regarding the short-term prospects for XRP, arguing that he has failed to provide substantial technical analysis or chart data to substantiate his claims.
One observer pointed out that XRP appears to have formed a double top and a lower high, suggesting that the asset may not be positioned for a breakout in the immediate future.
This perspective has gained traction, with some voices in the market recommending that it might still be an opportune moment to exit the XRP market while it remains profitable.
Despite this skepticism, there is a prevailing bullish sentiment surrounding XRP’s potential movements.
Various analysts have continued to express optimism for a significant rally.
For instance, one analyst has suggested that XRP could reach as high as $5 by December 20, citing the rapid price increase it experienced when breaking out of the $1 range at the end of November,
Ultimately soaring to a seven-year high of $2.87 in early December.
Additionally, analyst Ali Martinez has projected that XRP might reach $4.40 soon, noting that the asset is currently forming its fourth bullish pennant.
This pattern echoes previous movements that led from $0.68 to $1.20 in November, followed by a correction and a subsequent rise to $1.50, before another surge brought XRP to $2.87.
Based on this historical pattern, Martinez anticipates that the present period of consolidation will likely precede another upward movement, with a target of $4.40 firmly in sight.
In summary, while there is a hopeful outlook from some market analysts regarding XRP’s potential breakthrough, there are also significant voices of caution urging investors to remain vigilant and consider the current market dynamics before making any decisions.
For more Daily Crypto News and updates like this, join the newsletter or opt-in for push notifications.
Follow us on CoinMarketCap.
Also Read: XRP’S Drop Now Sparks Optimism
About The Author
Leave your thoughts below
Read Daily Market News – https://franknez.com/ for more news and updates like this