Ripple (XRP) Price Prediction: Analyst Unveils the Path to New All-Time High at $5.85
TL;DR
- XRP may break out, targeting $0.66 and $0.91 resistance levels.
- Some analysts suggest XRP could reach an all-time high of $5.85.
- Price predictions for XRP vary, with some as high as $500, but the feasibility of the highest prediction is doubtful due to market capitalization requirements.
XRP Poised for a Breakout?
The popular cryptocurrency analyst, using the X (Twitter) handle Dark Defender, thinks that Ripple’s native token (XRP) has a chance to surpass some key levels in the near future. In this article, we will pinpoint which price targets are in the cards.
Dark Defender noted that XRP closed last month with a “doji,” suggesting this positive development could lead to “a re-test towards $0.66 in a couple of days.”
They outlined that the coin has broken the initial resistance, meaning it is now ready to soar to the second resistance of $0.91.
XRP could even head towards a new all-time high (ATH) of $5.85, assuming it exceeds the critical $1.8815 level. However, the analyst could not predict when the community could witness such a peak.
XRP Realistic and Wild Forecasts
Ripple and its native token have been in the spotlight ever since the blockchain firm secured a partial victory against the US Securities and Exchange Commission (SEC) in July. Back then, a US court ruled that the company’s XRP sales back in the day did not constitute an offer of investment contracts. The announcement triggered a price rally that saw the asset trading at over $0.85.
And while the price failed to keep the momentum in the following months, the enhanced volatility gave analysts the opportunity to lay out numerous predictions. Some, like EGRAG CRYPTO and Duo Nine, have envisioned XRP to jump to as high as $1.40 and $3.30 (respectively).
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Others, such as Shannon Thorp, have not been so modest, forecasting that the token could skyrocket above $500. It is worth noting that XRP’s market capitalization should soar to approximately $260 trillion for that to happen, meaning the prediction sounds rather impossible.
Those curious to find out how the asset could perform during the next bull market according to the AI-powered language model ChatGPT could take a look at our dedicated video below:
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