A breakout above a particular price pattern known as a bull flag sparked the hope of a crypto analyst who thinks the price of XRP could surpass $1,400. It is a pattern that usually means that prices will continue moving higher as well after they wait for a period.
According to an analyst “Steph is Crypto,” XRP has finally broken out of the chart pattern that has been forming since 2018. That implies that XRP is now prepared for a solid action upward. Therefore, based on technical analysis, the analyst predicts that XRP could reach $1,452.81 in the next few years.
If such a big investor like Michael Saylor moves some of his company’s Bitcoin investment into XRP then the price will shoot to $1000 as another exciting prediction. However, it is all speculation, not confirmed.
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Besides the bull flag breakout, the analyst additionally noted one other technical sample known as the descending wedge. This pattern moved right when XRP’s price moved above this pattern around $2.48 which means another potential jump. The analysis further shows that XRP could attain $3.36 in the future.
XRP is also fully bullish in the eyes of other crypto experts, including Dark Defender. Using different analysis methods like Exponential Fibonacci levels and Elliott Wave theory, they see $77.7 at the end of this bull cycle.
Although this sounds exciting, investors should always research for themselves and be careful before any financial decision.
Also read: XRP vs. Ethereum: What Would 1 XRP Be Worth If Its Market Cap Matched ETH?
