- Analysts predict XRP might soar to $18 following a 3000% rise.
- In spite of the volatility lately, XRP has been trending positive for the last week by 2.78%.
The continuous Ripple v. SEC legal dispute and the high community expectations are putting a lot of strain on the XRP network. The XRP community is optimistic and seeking for chances where the XRP price may rise despite the falling market value. An analyst recently predicted that once XRP increased by 3000%, it may reach $18, drawing interest from the whole cryptocurrency market.
XRP: Recent Performance and Current Price
This week, Ripple coin has increased by 4.29% to reach $0.5247 in worth. Still, this rise just helped XRP escape its prior losses and into an average range, where it has stayed for years. According to CoinMarketCap data, the price of XRP is currently about $0.5219, having decreased somewhat by 0.39% during the previous day. Notwithstanding, with a 2.78% rise over the last seven days, it indicates a positive position.
Though the Ripple coin had a strong run in March, the market is now back to where it was. A crypto expert has dubbed this the final decline before a big price increase, though. Pseudonymous trader Coinskid projected that under the five-wave price movement, the XRP price may fall to $0.40 before turning positive.
Among the several analyses available, Dark Defender has made a daring forecast of a 3000% increase based on a monthly timeframe analysis of huge XRP/USD charts.
The price increased sharply before going into consolidation phases, as the analysts noted in a clear bull flag pattern. This bull flag pattern, claims Dark Defender, has been seen at intervals of one month, three months, and six months.
Analysis of Technology and Future Goals
Dark Defender backed up his forecast with a study of the Fibonacci extension level and flagpole, predicting that the price of XRP will first aim for $1.88, then climb to $5 and finally reach $18.23. A CNF report that showed XRP trading volume rose by 40% in Q1 2024 despite SEC proceedings bolstered this optimistic forecast.
Predictions abound that the price of the Ripple coin will rise soon. According to Block Bull, for example, historical market analysis and post-Bitcoin halving rally data suggest that the price may reach $250 by 2025.
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