Following a massive rise in the price of XRP, optimism towards the future performance of the altcoin is growing significantly within the community, as demonstrated by several bullish predictions from crypto analysts about its potential for further upside, possibly to a new all-time high in the ongoing market cycle.
Similarities between the current XRP trend and the past market trend
Given the substantial growth of XRP in recent days, marked speculation has arisen about the next direction of its prices. However, Master Kenobi, market expert and investor, has shared insights into the discussion, underlining that the altcoin could be aligning with past performances that led to the formation of its current all-time high price.
After careful examination of XRP’s weekly chart to determine its next possible trajectory, Master Kenobi highlighted that the asset began pumping in the current cycle at approximately 204 days. after the Bitcoin halving event. Meanwhile, in the last 2 market cycles, the altcoin took 224 days before seeing a notable rise, validating the market acceleration I had mentioned earlier.
Consequently, the expert affirms that the current price movement of XRP looks more like the penultimate bull market rather than the last, suggesting that a rally similar to a new all-time high may be on the horizon. “This provides an interesting basis for speculating about a similar trajectory,” he said.
Since Master Kenobi has ignored the latest bull cycle and has expanded his attention primarily to the oldest or penultimate pattern bull markethas pointed out key and confirmed factors that show that this ongoing cycle is reflecting the trend in three distinct stages.
For the first stage, it has warned of a drop in the coming days, probably as low as $1.39, after its recent tremendous rise. In the second stage, Kenobi believes that a new rally could emerge after this correction once the price interacts with the white trend line indicated on his chart, which, in this case, could push the alternative currencythe value up to the $8.1 milestone.
Furthermore, after reaching the $8.1 price level, the latest leg holds that a long consolidation phase is likely to occur before the final pump in the next 200 days, so the asset could approach the mark. from $11 in mid-October next year.
Is a new peak possible in this cycle?
XRP continues to see great confidence from the crypto community. Jack The Ripper, analyst and developer, has expressed his absolute optimism towards the altcoin. predicting which could reach a minimum value of $10 in 2025.
While Jack The Ripper expects the asset to reach that level in 2025, another market expert, KingXR,P claims that the $10 level could materialize in the next 2 days once explodes of a bullish triangle pattern. In a broader perspective, the expert predicts that the price of the altcoin in the coming days will be $54.
Featured image from YouTube, chart from Tradingview.com
