Ripple (XRP) is another noteworthy crypto token that has attracted heavy investor interest. The token can deliver new highs and is the focal crypto coin of the market, aiming to establish a global institutional reputation. With Bitcoin unlocking new highs, investor sentiment is now inching towards XRP, forecasting new price elements and scenarios that may help Ripple achieve a new price momentum.
Also Read: Shiba Inu (SHIB) Poised To Surge 1000%: Details
Analyst Forecasts A 49% Surge For The Token
With Bitcoin touching new highs, the market sentiment has turned incredibly positive for XRP. As per a notable financial analyst, the moon on X, XRP, aims to break out and trade within a 1D symmetrical triangle.
Triangle developments on price charts are often dubbed bullish indicators that signal impending new price highs for the tokens. These formulations usually indicate a target price hike based on the triangle height. The moon later shared how if XRP receives holistic support through the market, it can surge up to 49% to reach a new price peak of $0.9.
“#XRP is also trading within this 1D symmetrical triangle! If we break out to the upside, #Ripple might reach $0,9 (+49%) ”
Also Read: Cardano (ADA) & Dogecoin (Doge) Weekend Price Analysis
What Do Technical Markers Predict For XRP?
According to CoinCodex, XRP is already brewing a decent price hike by the end of this month. Per CC, XRP may spike 19% to hit the $0.73 mark.
“According to our current Ripple price prediction, the price of XRP is predicted to rise by 19.61% and reach $ 0.767131 by October 30, 2024. Per our technical indicators, the current sentiment is Bullish while the Fear & Greed Index is showing 61 (Greed). XRP recorded 17/30 (57%) green days with 4.39% price volatility over the last 30 days. Based on the XRP forecast, it’s now a good time to buy XRP.”
At the same time, CC shares that for Ripple to claim the 0.9 price mark, the token will need an additional five months to hit the $0.95 price level.
Also Read: 10 Best Crypto Staking Platforms of 2024
Credit: Source link
