An analyst has now outlined crucial timelines for XRP potential to reach $8.1 and $11, linking these price targets to the upcoming Bitcoin halving events.
A market analyst has made intriguing predictions regarding XRP’s price potential for this cycle, drawing insights from historical trends associated with Bitcoin halving events.
Recently, XRP experienced a significant retreat following a remarkable surge that brought its price to a seven-year high of $2.9 on December 3.
Since then, the asset has faced an 18.74% decline over three days, driven by Bitcoin’s recent correction from the $100,000 mark.
Despite this volatility, analyst Master Kenobi remains optimistic about XRP’s future.
He noted the asset’s historical performance in relation to Bitcoin halving cycles, suggesting that XRP could reach a peak of $11 this cycle.
Current market conditions, however, indicate that the ongoing correction was anticipated.
Initial Surge and Correction
Kenobi explained that XRP has typically rallied significantly around 224 days after past halving events. In the current cycle, XRP began its ascent after just 204 days—20 days earlier than previous patterns.
This early rally culminated in XRP’s spike to $2.9 on December 3.
Kenobi pointed out that this was followed by a necessary correction phase, which began on the same day and has continued, pushing XRP down into the lower $2 range.
Price Predictions: $8 and $11 Targets
During this correction, Kenobi forecasted that XRP might retrace to around $1.39.
He believes this dip could help shake out weaker investors and set the stage for a stronger upward movement, with the $1.39 level acting as a critical support zone.
Looking ahead, Kenobi predicts that after this pullback, XRP could initiate a new rally, potentially exceeding $8.1 by late February 2025.
He draws parallels with the 2017 bull market, suggesting that XRP often follows established patterns under specific conditions.
This anticipated rally will coincide with XRP’s interaction with a significant six-year trendline, which Kenobi identifies as a crucial resistance point.
If XRP can break through this barrier, it may align with historical trends and push the asset to new heights.
Should XRP achieve the $8.1 target, its market capitalization would rise to approximately $461.7 billion.
Kenobi emphasized that this valuation is achievable, especially considering Ethereum reached a market cap of $548 billion during its previous peak.
Final Phase and Long-Term Outlook
Following the expected peak at $8.1, Kenobi anticipates a consolidation phase lasting several months, essential for stabilizing the market.
He believes that around 200 days into this consolidation, XRP could experience a final surge, potentially reaching $11 by mid-October 2025.
This price point would bring XRP’s market capitalization close to $627 billion, although Kenobi acknowledged that achieving such a level would depend on broader market conditions.
As of the latest updates, XRP is trading at $2.47, reflecting a 6.61% increase this morning as it attempts to recover from recent losses.
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Also Read: AI Now Provides Best Short Term And Long Term XRP Scenario
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