In a recent analysis, crypto expert Babenski highlighted that Ripple’s XRP price is poised to break out. He pointed out an emerging bullish pattern that might ignite a surge to new all-time highs (ATH).
Babenski, in a TradingView update, noted that the XRP value is creating a petite flag pattern above a significant past accumulation region. According to him, this condition indicates an imminent breakout. His accompanying analysis suggests that the altcoin could potentially skyrocket to a remarkable $5 mark, setting a new ATH.
Another crypto analyst, Dark Defender, also forecasted that XRP might surge beyond $5 during the 5th wave of the ascending move. The analyst pointed out that since January 17th, the altcoin has been on a downward trend, but its support level is strengthening. Along these lines, an intersection is currently visible. Dark Defender predicted that XRP would make a decisive move within a fortnight.
Dark Defender’s analysis further suggests that XRP could reach up to $5.8563 with this upward move. In a subsequent post, he confirmed that the altcoin is already en route to a new ATH. Egrag Crypto, another analyst, echoed this notion by indicating that XRP is at a crucial point and could make a significant move soon.
In his latest analysis, Egrag Crypto stated that XRP is at a critical crossroads with a major formation breakout. The analyst predicts a 70-80% chance for an upward breakout and a 20-30% chance for a downward move. He believes that this breakout will be catalyzed by some significant news and that the chart suggests this news is imminent. He expects the fundamentals to be robust enough to pierce through key resistance levels.
In a post, crypto analyst CasiTrades expressed that XRP price is about to get thrilling. She noticed that the entire consolidation structure is nearing its end. With the price at a standstill and momentum stagnant, she believes that this is precisely how substantial market moves originate.
CasiTrades identified subwave 2 extensions from the recent local low. If this was indeed the Wave 2 bottom, then the measured extension projects upside targets. These targets align in the $8 to $13 macro zone, which she has been highlighting for over a year. This rare alignment across structure, time, and Fibonacci extensions is why she insists that everyone should be macro bullish on XRP.
At the time of writing, XRP is trading at approximately $2.29, down in the last 24 hours, as per CoinMarketCap data.
