Analyst Provides Timeline & When to Buy Ripple Before XRP Price Hits $10

A popular angel investor and analyst believes that ongoing XRP price consolidation could be calm before the storm that could result in a parabolic move. He cited its strong technical formations and fundamental triggers that could push it higher if key conditions were met. 

Analyst Explains Key Conditions for XRP Price to Hit $10

XRP trades today at $2.3178, down by 31% from its highest point this year. In an X post, Dennis Liu, a well-known analyst who runs the VirtualBacon podcast, explains why he expects the Ripple coin to explode higher in the next three to six months. 

He cited the daily chart of the XRP/BTC pair, which, as shown below, has formed a rounded top pattern whose higher side is at 0.00003408 and the support is at 0.00002200. A drop below that support, which has already happened, will lead to more downside between 0.000017 and 0.000019. He believes that such a drop will be the value zone, mirroring what happened between Bitcoin and ETH in 2021 and SOL in 2023.

Interestingly, the XRP/BTC pair also formed a rounded top pattern between June and November last year. This pattern triggered a 500% surge of XRP price between November and early December 2024.

In his view, the scenario could play out in two ways.

1. First, Bitcoin remains in the current range of around $100,000 and $112,000. Here, there is a risk that the XRP price will drop by about 22% to $1.8.
2. Second, there is a scenario where the Bitcoin price rises to $128,000. If this happens, the XRP also remains inside the current range or drops to between $1.80 and $1.85. He argues that such a time would be a good time to buy the dip, which could see it jump to $10 as he predicted in 2022.

Fundamental Triggers for Ripple

Liu has identified five fundamental triggers that could boost his XRP price forecast:

• End of the SEC lawsuit.
• The recent launch of CME futures contracts.
• Canada spot XRP ETF potential. 
• XRP ETF approval by the SEC.
• Stablecoin growth.

The SEC ended its lawsuit against Ripple this year, a highly significant event. With its legal issues behind it now, it means that Ripple Labs can freely enroll more American banks to the RippleNet product as it seeks to disrupt Swift Network. 

The recent CME futures launch has been successful and is demonstrating that there is substantial demand for XRP products. VolatilityShares has already filed for an ETF tracking the XRP futures, and more asset managers may do the same. Such a fund may be successful as ProShares Bitcoin Strategy ETF, which has over $2 billion in assets.

Further, there are signs that Canada will approve the spot XRP ETF by Purpose Investments. Polymarket odds for a spot XRP ETF approval are over 80%. Such funds will lead to more demand, with JPMorgan estimating $8 billion of inflows in the first year.

XRP price will also be boosted by Ripple’s growing stablecoin business, with the RLUSD having a market cap of over $315 million. Ripple is also said to be in talks to buy Circle, a move that would make it the second-biggest player in the industry.

Can XRP Price Hit $10 in 6 Months?

XRP price can jump to $10 in a six-month period since it needs to rise by 335% from the current level. It has had such moves in the past. For example, it rallied by almost 500% between November and December following Donald Trump’s victory. 

It has also made other big moves in the past. For example, it jumped by 1,680% from its December 2019 lows and its highest level in 2021. Therefore, XRP price could replicate these moves if fundamentals and technicals align.

The Bottomline

Liu believes that the XRP price will go parabolic in the next few months, citing its historical performance. But before that happens, he expects it to have a panic crash before the surge starts. 

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crispus

Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.