A crypto expert, who chooses to remain pseudonymous, has utilized the platform X (formerly known as Twitter) to present an optimistic outlook about the future trajectory of the XRP price. The cryptocurrency researcher observes a significant surge that has the potential to propel the altcoin's value above its previous record peak, perhaps reaching a price as high as $470.
The #XRPUpdate price breakout and its three targets
The study published on X provides a comprehensive rationale for CryptoBull's optimistic outlook on the XRP price. The analyst use triangular patterns as a means of identifying potential market tops and subsequent bottoms, preceding significant price surges.
The analysis presents a chart that delineates three instances of completed triangles observed throughout the token's existence, along with the subsequent bull rallies that ensued. Every individual observed a minimum increase of 600%, with the maximum surpassing 75,000%. Nevertheless, the fourth one, which appears to be approaching its last stages, has the utmost significance.
Based on the historical performance observed at the conclusion of each triangular formation, the analyst has proposed three significant price objectives that may manifest with the completion of the current triangle formation. The first price goal is set at $4.20, representing a potential increase of 600% in value. Next, the second target is positioned at a value of $7.20. This proposed action would result in a significant surge of 1,000%, mirroring the previous upward trend observed with the completion of the last triangle formation.
The final price goal, derived on the 75,000% gain observed after the second completion of the triangle formation, stands at $470. The expert concluded by stating that $XRP has consistently had significant price surges at the conclusion of each triangular pattern, and the current fourth triangle is nearing its completion. What is your stance on the matter under consideration?
Analist estimates align closely with those of Wells Fargo Manager Shannon Thorp, who has projected the XRP price to reach $500. In contrast to Analist utilization of technical research for price prediction, Thorp bases his argument for the potential surge in Ripple's token price on its significant position in the cross-border payments industry.
According to Thorp's analysis, it is projected that the total value of cross-border payments conducted in 2027 would reach $250 trillion. Furthermore, as Ripple gains a greater portion of the market share, it is anticipated that the worth of XRP will correspondingly increase.
