XRP Price Analysis: Will XRP Reach $15 in This Bull Run?
A recent technical analysis conducted by crypto analyst Bobby A (@Bobby_1111888) suggests that XRP may potentially hit the $15 mark during the current bull run. This projection is based on historical price movements and patterns observed in XRP’s market cycles. By analyzing past data and applying percentage-based extrapolations, Bobby A forecasts potential future price trajectories for XRP.
Analyzing XRP’s Performance
Bobby A’s analysis compares XRP’s performance in the 2017 market cycle with its current trajectory in 2024. In 2017, following a range-high breakout marked by a horizontal black dashed line on the chart, XRP experienced a 629% increase. In comparison, since its range-high breakout in 2024, XRP has appreciated approximately 331%. Looking back further, from the December 2014 high to the May 2017 peak, XRP saw a significant 1,330% increase.
By applying the principle of reducing percentage point increases by half, Bobby A suggests that XRP’s next impulse could result in a 665% increase, potentially pushing the price to around $15 near the 4.236 Fibonacci extension level. The analyst notes, “XRP appears to be cutting its percentage point increases in half compared to its 2017 market cycle.”
Contrasting Views
Another analyst, bassii (@cryptobassii), provides a contrasting viewpoint based on fractal analysis. Bassii suggests that the ongoing run may see a 42% correction, bringing XRP’s price to around $9 before a significant downturn. However, he also highlights the potential for XRP to reach $30 if historical fractal patterns continue to play out.
Potential Future Movements
Bassii’s analysis focuses on the similarities between the 2024 run and the 2017 cycle, noting five weeks of consecutive green candles in both periods. Based on historical patterns, he suggests that if XRP continues to follow these fractal patterns, it could potentially reach $30 by September 2025.
Responding to Bassii’s analysis, Bobby A expresses cautious optimism, emphasizing the importance of adhering to fractal patterns and real-time chart developments. Both analysts acknowledge the potential for significant price movements in XRP, with Bobby A highlighting a possible $15 target.
With XRP currently trading at $2.1581, analysts are closely monitoring the market for potential price movements and developments.
Featured image created with DALL.E, chart from TradingView.com