XRP Price Sets Bullish Flag Continuation On The Daily Chart, Next Stop $10?

The XRP worth has been one of the best altcoin performers over the previous few months, going from under $0.6 to over $2.8 on this time interval. However, like the remainder of the crypto market, the altcoin not too long ago succumbed to bearish stress, pushing it again towards $2. Regardless of this, the XRP worth has continued to point out power, and up to date developments on the altcoin’s chart present that the bullish momentum is much from over.

XRP Worth Exhibits Bullish Continuation

To this point, the XRP worth has been ranging in a tight channel as bulls have maintained a good maintain on the $2 help. A crypto analyst on the TradingView platform factors this out in a current evaluation that paints XRP in a bullish gentle regardless of the crash.

Associated Studying

With the worth retracement, $2 has been established as help, whereas essentially the most notable resistance is now sitting under $3. Given the current developments, the crypto analyst believes that is bullish for the XRP worth. It is because the altcoin has been setting a bullish continuation transfer on the every day chart.

This bullish continuation is thought to be bullish for crypto belongings, particularly when it ends in a breakout. For now, the XRP worth might want to escape of the present bullish channel to substantiate this transfer. If this occurs, then XRP might be an over 300% transfer from its present worth stage.

“As soon as we get a escape of that bullish channel, we are going to break all-time highs properly into a brand new all-time excessive,” the crypto analyst mentioned.

How Excessive Can Worth Go From Right here?

If the XRP worth had been to efficiently break out of the bullish channel from right here, then it alerts momentum that might ship it to a brand new all-time excessive. At the moment, the altcoin is sitting round 37% under its all-time excessive worth of $3.84 set again in 2027. Because of this an 80% transfer from right here would imply new all-time highs.

Associated Studying

In keeping with the crypto analyst, the breakout would see the XRP price more than double. They predict that the worth may rise as excessive as $10-$11 off this bullish momentum, which might imply a 5x bounce and the primary time XRP could be touching double-digits. As for when this transfer would possibly occur, the chart places it in Q1 2025.

The primary quarter of the yr has been identified to be bullish for cryptocurrencies, so this falls into place for the cryptocurrency. The final two years have seen XRP close out Q1 in the green, with 58.8% good points in 2023 and a pair of.37% good points in 2024. To this point, the XRP worth is up 15.9% in 2025, suggesting that it’ll observe the identical path because the earlier years.

Featured picture created with Dall.E, chart from Tradingview.com