<p class="p2">Pseudonymous crypto analyst CryptoBull has taken to X (formerly Twitter) to paint a rather bullish picture of the future of the <a href="https://bitcoinist.com/key-events-xrp-price-10/">XRP</a> price. The crypto analyst sees a massive breakout that would push <a href="https://bitcoinist.com/xrp-100-bitcoin-performance/">the altcoin’s price</a> above its previous all-time high, and potentially put it as high as $470.</p> 
<h2 class="p2" id="xrp-price-breakout-and-the-three-targets">XRP Price Breakout And The Three Targets</h2> 
<p class="p2">In the analysis posted on X, CryptoBull <a href="https://x.com/CryptoBull2020/status/1726960269384159289?s=20" rel="nofollow" target="_blank">outlined</a> the reason why they are so bullish on the <a href="https://bitcoinist.com/ripple-sec-xrp-crypto-securities/">XRP</a> price. The analyst uses triangle patterns to map out what looks to be the top and then the coinciding bottom, before an incredible run in price occurs.</p> 
<p class="p2">The chart shared in the analysis identifies three triangles that have been completed over the lifespan of <a href="https://bitcoinist.com/xrp-ledger-achieves-milestone-hits-new-heights/">the token</a> and their resulting bull rallies. Each one saw an at least 600% rise, with the highest sitting above 75,000%. However, the most important one is the fourth which looks to be nearing its completion.</p> 
<p class="p2">Using the previous performances at the end of each triangle, the analyst put forth three major price targets that could play out once this triangle formation is completed. The first of these price targets sits at $4.20 which would coincide with a 600% rally. Moving on, the second target is placed at $7.20. Such a move would mean a 1,000% increase, which is the same rally that was seen when the last triangle was completed.</p> 
<p class="p2">The last of the price targets using the 75,000% rally that occurred the second time that the triangle formation was completed is $470. The analyst closed out by saying “XRP had a major breakout at the end of every triangle and we are about to finish the fourth triangle. Do you believe?”</p> 
<p><img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/FthSUwWB/" alt="XRP price chart from Tradingview.com (crypto analyst)" width="2650" height="1530"></p> 
<h2 class="p2" id="high-expectations-for-xrp">High Expectations For XRP</h2> 
<p class="p2">CryptoBull’s expectations are closely similar to that of <a href="https://bitcoinist.com/xrp-price-500/">Wells Fargo Manager Shannon Thorp </a>who put the XRP price at $500. However, where CryptoBull uses technical analysis to predict the price, Thorp uses Ripple’s presence in the cross-border payments sector as a backing for why the token’s price could rise this high.</p> 
<p class="p2">As Thorp explained, there is expected to be $250 trillion in cross-border payments processed in 2027, and as Ripple catches a larger percentage of the market share, the XRP valuation is expected to rise in response.</p> 
<p class="p2">Other bullish predictions include a $100 price prediction from analyst 25HRSCRYPTO. The analyst <a href="https://bitcoinist.com/xrp-100-bitcoin-performance/">believes</a> that the XRP price could rise this much, especially given how well the network performs compared to the leading cryptocurrency Bitcoin.</p>

XRP Price At $470: Analyst Predicts Breakout With 3 Major Targets

Table of Contents

Bitcoinist

Other articles published on Nov 23, 2023

Inside Blast: On-Chain Clues Behind Blur’s Parabolic Layer 2 Growth

KyberSwap DEX Attack: Unraveling the $46 Million ‘Infinite Money Glitch’ Exploit

Massive Crypto Hack Hits HTX and HECO Bridge: $97 Million Lost

Just In: Sam Bankman-Fried Resorts to Mackerel Economy in Prison

8 Best Cryptos to Buy in December- How to Secure End-of-Year Profits?

BBVA Switzerland enhances digital asset operations with Ripple-owned Metaco

Join our free newsletter for daily crypto updates!