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Despite the recent decline and volatility, one cryptocurrency analyst declared: XRP price It is trying to break out of a bullish flag pattern. According to analysts, Successful breakout of this bullish flag As a result, the price of XRP could rise significantly by 50%, pushing the cryptocurrency closer to the all-time high of $3.84 set during the 2021 bull market.
XRP price target after bullish flag breakout is $3.6
In the past few weeks, XRP price has Formed a bullish flag patternindicating the possibility that the upward trend will continue in the future. According to crypto analyst Captain Fibig, share On the X (formerly Twitter) chart, XRP is preparing to break out of this bullish flag on the daily hourly chart.
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The bullish flag is continuation pattern. It forms when the price of a cryptocurrency is trading sideways or undergoing a correction, indicating strong upside potential.
On the analyst chart, XRP is testing the upper bound of a bullish flag pattern. aiming to break through it and causes the next price increase. Captain Fybic predicted that if XRP successfully breaks out of this bullish flag and sustains above price, it could trigger an astounding 50.22% rally.
Currently trading at $2.2, if XRP can rise as much as 50% after the bullish flag breakout, the market price could jump significantly to $3.3. This forecast target is just 16.36% away from breaking XRP’s $3.84 ATH, achieved during the previous bull run in 2021.
further solidify his confidence XRP future price trajectoryCaptain Fibig’s recent prediction doubles his previous prediction in an earlier X post. Significant price increases are expected For XRP it is $3.66.
XRP exceeds $20 in Elliott Wave
Another X post identified a prominent cryptocurrency analyst as “CryptoBull” predicted It is believed that the XRP price could soar above $20 later in this bullish cycle. However, analysts predict that cryptocurrencies may reach their limits. short term goals It will be $13 in the next few weeks.
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CryptoBull is based on optimistic XRP price predictions. elliot shockwavehighlighting the impact on historical price movements of virtual currencies. Analysts have revealed that Elliott impulse waves typically begin after a cryptocurrency experiences significant fluctuations. price breakout.
He further explained that in 2017, five waves of the Elliott Shock Wave Cycle caused the price to skyrocket from $0.002 to $3.84, representing a staggering 70,000% increase. Based on this historical trend, CryptoBull predicts that XRP could witness a similar bull run. He predicts that five Elliott Impulse waves could cause a 6,000% rise in XRP price during this bullish cycle, pushing the price to a new ATH of $26.
Featured image created by Dall.E, Charts from Tradingview.com
