After trading sideways for some time, Ripple’s XRP has climbed to $0.62, supported by a positive shift in the crypto market as Bitcoin hit $66,000 for the first time in five weeks. Crypto trader Captain Faibik has forecasted a potential 299.4% rally for XRP, predicting it could reach $2.30 in the mid-term. And his long-term outlook suggests even greater gains are possible.
Read more on this below.
XRP Poised for a 299% Jump
Captain Faibik believes XRP is ready for a strong upward move. He has set a mid-term price target of $2.30, marking a 299.4% increase from its current level. With Bitcoin’s rise boosting the overall market, XRP could follow with its own breakout.
The excitement around XRP is also driven by rising institutional interest and hopes for favorable regulatory outcomes. Ripple’s nearly four-year-long legal battle with the SEC is nearing its end, and many believe clearer regulations could strengthen XRP’s market position.
EGRAG’s Ambitious Vision: Could XRP Hit $31?
Market analyst EGRAG is even more bullish, predicting an 888% increase if XRP retests its previous high of $3.31. His analysis highlights a pattern on XRP’s 1-month chart, which mirrors its 2017 bull run when XRP repeatedly touched an ascending red support line before skyrocketing. Currently, XRP has touched this line again, which could signal another major rally.
EGRAG suggests that if conditions are right, XRP could reach $31, which aligns with a key Fibonacci extension level (Fib 1.618). However, to achieve this, XRP must first surpass its previous all-time high of $3.31. Even a smaller rally could push its price to $6.50, with the $31 target as a possible long-term goal.
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Stay tuned for more updates on XRP’s exciting journey.
Source: https://coinpedia.org/news/xrp-price-prediction-ripple-primed-for-a-potential-299-surge/