Insane XRP Price Prediction : Analyst Predicts XRP To Surge 50x by June – 2023
The post Insane XRP Price Prediction : Analyst Predicts XRP To Surge 50x by June – 2023 appeared first on Coinpedia Fintech News
Ripple’s XRP is expected to reach the $23.80 price threshold by the end of June, according to a forecast made by the anonymous analyst CryptoBull on Twitter. The analyst gave the audience a copy of the weekly price chart for XRP, which showed that the value of the asset was now positioned in a bullish wedge continuation pattern, very similar to the state it was in just before it began its most recent bull market rise. As a direct result of this, CryptoBull is of the opinion that XRP will engage in a similar price movement. See the chart below:
At the time of publication, the token has a value of $0.40, which indicates that a growth of 6000% is necessary for the token to meet CryptoBull’s goal. The price of XRP has rebounded from the support zone ranging from $0.380 to $0.400 in an effort to resurrect its positive perspective.
Investors should continue cautiously, anticipate a collapse of the aforementioned support structure, and make decisions based on the signals they see. In the event that the $0.380 barrier is successfully invalidated, the market should drop downward by 11% to $0.337.
The bearish thesis would be rendered null and void, however, if XRP were to post a daily candlestick close above the $0.448 obstacle, so transforming it into a support floor. In the event that this scenario played out, the XRP price would try to break through the $0.471 and $0.506 barriers.
According to the chart, XRP seems to be getting ready to stage a comeback. It seems like its 30-day moving average is set to pass its 200-day moving average, which is something that may signify a breakthrough over $0.4 and even farther.
In addition to this, there have been rumors indicating that whales have been stockpiling XRP over the last few days, which raises the prospect of big moves occurring very soon. In light of this, the prognosis made by CryptoBull may seem quite ambitious, but it is not impossible.
