Analyst Says XRP Price Is Long Overdue For Bullish Wave, Here’s The Target
June 19 2024 - 10:00PM
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The XRP price has struggled in the market over the past year and
has failed to reach a new all-time high even after securing partial
victories against the US Securities and Exchange Commission (SEC).
However, this lackluster price action has not deterred investors,
who continue to believe in the long-term potential of the altcoin.
One crypto analyst, in particular, expects the coin price to see
another bullish wave that could push it toward the $1 price target.
XRP Price Ready For Another Bullish Wave Crypto analyst Alan
Santana has predicted a bullish future for the XRP price. The
analyst shared a recent analysis which took into account the past
performances of not just XRP, but also other crypto assets as well,
highlighting their recent peaks. Related Reading: Is Solana A Good
Buy? Finance CEO Predicts ‘Magnificent’ Autumn Rally The crypto
analyst explained that all cryptocurrencies had time for their
peaks, and then when they entered a bullish wave. Usually, this
bullish wave tends to occur around 8-10 months following the
previous peak, meaning that the XRP price is long overdue for a
bullish wave. Alan Santana revealed that the last peak for XRP was
back in July 2023, when Judge Analisa Torres had ruled that
programmatic XRP sales did not qualify as securities offerings. At
the time, the XRP price had rallied over $0.7. However, once that
bullish wave ended, the altcoin went into a decline that lasted
almost one year. Presently, the XRP price has spent a total of 11
months without a bullish wave and given the established average of
8-10 months for cryptocurrencies between each bullish wave, the
altcoin may be getting ready for another bullish wave. However, as
the crypto analyst explains, not all bullish waves are the same for
all crypto assets. This means that even if XRP were to see another
bullish wave, it may not be as expected. Nevertheless, Alan Santana
expects that the bullish wave will push the price further. How High
Can The Price Go? Providing the possible target for where the XRP
price may end up from here, the crypto analyst suggests that a 100%
move is possible for the altcoin. One of the major targets
highlighted is the $0.65, which is around a 50% increase in price
from here. Related Reading: Shiba Inu To The Moon: Analyst Predicts
A Run Above $0.00015 If This Happens However, that is not the
highest the price is expected to go in its next bullish wave.
According to Alan Santana’s chart, the XRP price could end up
running as high as $0.9442 before it loses steam. From here, it is
possible that the price does touch above the coveted $1 level
before correcting back downward again. Featured image created with
Dall.E, chart from Tradingview.com
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