According to Cointelegraph, analysts predict that XRP prices could rise by 530% to $14. The XRP/USD pair needs to reclaim the 200-day moving average to continue the upward trend.
XRP prices have fluctuated between $2.05 and $2.40 over the past month and formed a bull flag pattern on the weekly chart. Analysts believe that the current technical formation is similar to the trend before the big rally in 2017.
Well-known analyst Mikybull Crypto said that XRP’s three-week time frame trend seems to be following the pattern of 2017, when the price rose more than 1,300% to an all-time high of $3.40 after a bull flag breakout.
XRP price needs to break through the 50-day moving average resistance at $2.27. If it can turn the $2.37-$2.65 resistance into support, it will be expected to return to $3.00 or higher.