- An analyst predicted that XRP could hit $220 during its next bull run.
- At press time, XRP was worth $0.5505 after its price slightly declined by 0.01% in the past 24 hours.
- XRP’s daily RSI line was closing in on the daily RSI SMA line, suggesting that sellers are starting to take control.
The cryptocurrency analyst, CryptoBull on X predicted yesterday that Ripple’s (XRP) price could surge to over $200 during the next bull cycle. The analyst based his prediction on the “Bottom-Retrace-Top Theory” together with XRP’s historical data and its performance during the previous bull run.
#XRP went from $0.002 to $3.84 during its first major bullrun. We find that the bottom and the top line up with its retrace. If we follow the very same pattern this bullrun we could find XRP at $220. pic.twitter.com/Bimx3C5AAV— CryptoBull (@CryptoBull2020) October 25, 2023
During its first major bull run, XRP experienced a drastic price increase, rising from $0.003 to $3.84. Notably, CryptoBull pointed out that the top and the bottom on XRP’s monthly chart line up with its retracement.
If history were to repeat itself, following a similar pattern in the next bull …
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