XRP Price Prediction: Bullish Outlook for Massive Rally
A well-known cryptocurrency market analyst on X has predicted a massive rally for XRP, given that the asset breaks above significant resistance.
In his latest post, the analyst highlighted XRP’s current state, noting that the cryptocurrency is consolidating on the monthly time frame. Thus, a bullish breakout could see the digital asset head for a $13 market price.
Bullish Pattern & Fibonacci Level Highlighted for XRP
According to the analyst, XRP has formed a bullish pattern, signaling potential upward momentum. He emphasized the cryptocurrency’s price relative to the Fibonacci Circle at 1.414, which he considers a key resistance that XRP must overcome to pave the way for a massive rally.
Related: [XRP Price Prediction for March 5th: Can XRP Sustain Uptrend After Recent 12% Price Drop?]
Analyst’s XRP Target: $8.5-$13 Initial Range, $30 in Phase Two
The analyst views $13 as the upper end of XRP’s target range. He suggests that the next move could push the price into the $8.5 to $13 bracket, followed by a consolidation phase. After this, he anticipates another rally that could push XRP’s price toward the $30 mark, with a predicted range of $27 to $33 for that second phase.
Conditions for XRP Bullish Outlook: 21 EMA Support & $1.64 Floor
Although the analyst’s prediction is ambitious, considering his targets exceed XRP’s all-time high, he mentioned essential conditions for maintaining a bullish outlook. He wants the 21 EMA support to hold on the monthly time frame and does not want XRP to close below the $1.64 price level.
In his view, a successful bounce off the 21 EMA on the monthly chart will confirm the start of the predicted rally. Currently, the crypto token is trading at $2.49, based on TradingView’s data. XRP has increased 14.86% since its recent pullback, as traders await the altcoin’s next significant move.
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