• Thu. Jul 18th, 2024

Market Watcher Claims XRP Is Getting Close to a 15x Rise Above $7.5 With Every Daily Candle

Phillip Bryant

ByPhillip Bryant

Jun 29, 2024
Market Watcher Claims XRP Is Getting Close to a 15x Rise Above $7.5 With Every Daily Candle

Renowned analyst JayDee suggests that XRP is steadily approaching the highly anticipated and remarkable surge, as evidenced by the formation of each candlestick.

In one of his recent analyses on XRP’s future, Dee shared a chart that suggests a potential target range of over $7.5 for XRP once the breakout happens.

The chart demonstrates that after XRP experienced a remarkable surge in 2017/2018, the asset encountered obstacles, resulting in declining values and a drop from its highest point of more than $3.8 to below $1.

Interestingly, a short-lived spike occurred during the 2021 bull run, but it fell short of surpassing the record set in 2018. Afterward, XRP continued its decline until it reached its current level of approximately $0.47.

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The trajectory since the peak in 2018 has formed a sizeable triangular pattern. Several experts have utilized this configuration to forecast a potentially remarkable surge that may exceed the previous record set in 2018.

This positive outlook is fueled by a comparable trend observed from 2013 to 2017 when XRP went through a briefer period of consolidation lasting four years. XRP experienced a significant surge in its market value, skyrocketing by a staggering 60,000% from approximately $0.006 to its record-breaking peak of $3.84.

XRP Nearing a 15-fold Surge

JD, along with numerous other market observers, expects this historical trend to recur. Given XRP’s current floor price of $0.4754, the target of surpassing $7.5 indicates a projected increase of more than 1,477% or a surge of over 15 times for XRP.

The analyst observed that XRP is steadily approaching this goal with every candle, anticipating its realization by 2025. Nevertheless, Dee recognized that the transition from $0.4754 to $7.5 would be a challenging upward trajectory.

Consequently, he advised individuals who have faith in his forecast to capitalize on advantageous opportunities along the journey toward the target.

#XRP – you’re getting close if you’re counting candles or wicks. Since they “know what they hold” for years, dumb money who ignored my LIFE CHANGING calls would deny this chart.
We’ll see to it that we profit on dumb money! For most, this cycle will be FUN yet VERY depressing.

— JD (@jaydee_757)

Expectations From Other Experts

Meanwhile, various market observers have established significantly more ambitious target prices for XRP once it breaks out from its substantial triangular formation. An analysis conducted on TradingView suggested a level above $17. According to analyst Javon Marks, there is a highly ambitious projection of a staggering surge of 37,635% to reach $200.

Nevertheless, it is essential to highlight that XRP’s recent performance in this bullish market has yet to match the optimistic predictions made by analysts. In the first quarter, XRP did not perform as well as the majority of top-ranking crypto assets, and unfortunately, its condition has not shown any signs of improvement as the second quarter comes to a close.

Phillip Bryant

Phillip Bryant

Phillip Bryant, an esteemed writer in the financial field, imparts his extensive knowledge of currency markets to the readers of Main Crypto News. With a wealth of experience in international finance and a keen sense of market trends, Bryant offers timely and perceptive analysis of foreign exchange, keeping readers well-informed.

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