Following the significant rise in the price of XRP, optimism towards the future performance of the altcoin is growing significantly within the community, as evidenced by many Bullish outlook From cryptocurrency analysts regarding its potential for further upside, perhaps to a new all-time high in the ongoing market cycle.
Similarities between the current trend of XRP and the previous market trend
Due to the significant growth that XRP has achieved in the past few days, intense speculation has emerged about its next price direction. However, Mr. Kenobi, a market expert and investor, did just that subscriber Insights into the discussion, confirming that the altcoin may move in line with past performance that led to its current all-time high price being formed.
After carefully examining XRP’s weekly chart in order to determine its next potential path, Mr. Kenobi explained that the asset started pumping in the current cycle around 204 days ago. After the Bitcoin halving event. Meanwhile, in the last two market cycles, it took 224 days before it saw a significant rise, validating the market acceleration mentioned earlier.
As a result, the expert claims that the current price action XRP It closely matches the penultimate but not the last bull market, suggesting that a similar rally to a new all-time high may be on the horizon. “This provides an interesting basis for speculating on a similar trajectory,” he said.
Since Master Kenobi has ignored the last Taurus cycle and has expanded his focus mainly on the oldest or penultimate pattern Bull marketHe pointed out the main and confirmed factors that show that this continuous cycle reverses the trend in 3 distinct phases.
For the first stage, he warned of a decline in the coming days, perhaps reaching $1.39, after the recent massive pumping. In the second stage, Kenobi believes that a new high may appear after this correction once the price interacts with the white trend line indicated in his chart, which in this case may push the upward trend. Alternative currencyValue to teacher $8.1.
Moreover, after reaching the $8.1 price level, the latest phase confirms that a long consolidation phase is likely to occur before the final pump in the next 200 days, as the asset could rise near the $11 mark in mid-October next year.
Is a new peak possible in this cycle?
XRP continues to see strong confidence from the cryptocurrency community. Jack the Ripper, an analyst and developer, expressed his extreme optimism about the alternative currency, saying: Prediction It could reach a minimum value of $10 in 2025.
While Jack The Ripper expects the asset to reach this level by 2025, another market expert, KingXR,P. Claims The $10 level may be achieved within the next two days once it happens It explodes From the ascending triangle pattern. From a broader perspective, the expert expects the price of the altcoin to reach $54 in the coming days.
Featured image from YouTube, chart from Tradingview.com
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