Bigger Moves Expected Next Week; Bulls Gearing Up to Reclaim $1 But is $57 possible?

Ripple’s XRP is gearing up for a significant move to the upside, but there’s a chance the correction to the downside might not be over yet. . The price has already hit the expected range between $0.545 and $0.56, but analyst Cheeky Crypto expects a slight drop within this range. He stressed the importance of holding the $0.545 to $0.561 level, as it anchors the move towards the $0.583 to $0.593 range.

The analyst also pointed out that despite recent volatility, XRP’s expected move to the downside has played out, but there might still be a chance of revisiting this range before a significant surge to the upside occurs. 

In the bigger picture, he is targeting a breakout between $0.75 and $0.85, but this move might take some time to develop, possibly extending into the next week. He also warned that if the $0.545 level is lost, the outlook could change.

Long-Term Vision: Patience is Key

For those looking further ahead, the weekly time frame suggests that XRP could reach between $5.59 and $11.25 by the peak of the 2025 bull market. This long-term target remains valid as long as the current bear market low of $0.2872 holds.

Fundamental News:

While technical patterns are forming, fundamental news, particularly around Ripple’s ongoing legal battle with the SEC, could trigger an earlier-than-expected breakout. Market sentiment is optimistic, but patience is key as this plays out.

But Will XRP Hit $57?

A recent price prediction for XRP has surprised the crypto community. Analyst Amonyx forecasts that XRP could surge to $57. Using a logarithmic price chart, Amonyx notes that XRP has traded within a specific range since 2014, with its current price near the lower end of this range. The analyst believes XRP is now set to break out of this long-standing range.