$XRP 🔥Analyst: Prepare for a 530% increase in the price of XRP to $14 if this happens

Analysts predict that XRP could rise 530% to reach $14. Analysts predict that XRP could rise 530% to reach $14.

The XRP/USD pair needs to recover the 200-day simple moving average (SMA) to continue the bullish trend.

The price of XRP has been trading between $2.05 and $2.40 over the past month, while consolidating in a bullish pennant on the weekly timeframe.

Several analysts claim that the current technical setup reflects the price evolution in 2017, which preceded a massive rise to all-time highs.

The price of XRP is aiming for a 530% increase to reach double digits.

The price of XRP

XRP

€1.90

has consolidated below $3.00 since February 1. Nevertheless, analysts maintain that it could experience a massive recovery from the current level if it follows a breakout like that of 2017.

Cryptocurrency analyst Mikybull Crypto stated that the price movement of XRP over the next three weeks seems to follow the script of 2017, when a breakout from a bullish pennant triggered a rise of over 1,300% to all-time highs around $3.40.

"I've seen this movie before," the analyst said in a post on June 17 on X. A similar surge to that of 2017 is approaching. As Cointelegraph reported, breaking resistance at $2.65 could lead to a sustained recovery that could push XRP above $3.00.