XRP Could See Massive 11,745% Increase in Weeks, Says Top Analyst

A notable analyst believes XRP is loading massive green candles to drive its value up by 11,745% over the next few weeks, but skepticism abounds.

It’s been a week since the over three-and-a-half-year lawsuit involving XRP and Ripple concluded, but the price of XRP remains solidly around $0.56. XRP shredded 2% of its value over the past day and 6.4% over the last week.

Zooming out to a longer time frame, XRP is trading 10% below the value it sold for a year ago. Despite this long-running unimpressive price action, crypto analyst Amonyx has boldly asserted that XRP is instead loading what he describes as “massive green God candles.”

Massive Green God Candles to Send XRP to $57

Taking to X recently, he shared a weekly chart of XRP suggesting the asset could stage giant green candles over an eight-week period, or 56 days. During this period, he expects XRP’s value to rise by an astonishing 11,745% to a $57 price level.

Notably, crypto analysts often infer the emergence of a “God candle” after an extended period of suppression or pressure build-up, where an asset has been consolidating at a lower range. They expect these giant candles to compensate for the built-up pressure from the days of underperformance.

Meanwhile, Amonyx is not the first analyst to cite the potential emergence of a “God candle” on XRP’s weekly timeframe. A few weeks ago, analyst DustyBC issued a similar observation, but his expectation was for XRP to attain $30. 

Skepticism Abounds about XRP God Candle

It has been nearly three months since this bullish observation, and XRP has not completely broken free from the $0.5 range it was in when DustyBC made the suggestion.

Interestingly, market participants have taken note of this unfulfilled forecast and other similar projections. This has led to doubts around Amonyx’s latest proposition of an incoming God candle.

“Maybe one day someone will be correct,” remarked X user Xeowold. Another commenter named Scott sarcastically noted that if he had a dollar for every time someone has made this prediction in the last four years, he would already be a multi-millionaire.

Meanwhile, commenter Mehmetemin Tekin highlighted a crucial point by noting that XRP and Ripple just triumphed in a nearly four-year legal battle that threatened their existence. Yet, XRP’s price has remained unchanged, as if nothing significant happened.

“Unfortunately, if XRP is $0.58 despite winning the court case, there is no reason for it to rise from now on,” Tekin submitted.