Bull Flag

The post <a href="https://coinpedia.org/news/xrp-price-prediction-analyst-suggests-new-pattern-could-trigger-60000-surge-7-on-cards/">XRP Price Prediction: Analyst Suggests New Pattern Could Trigger 60,000% Surge; $7 on Cards</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
An analyst recently discussed the current state of <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" target="_blank" rel="noreferrer noopener">XRP’s price</a>, explaining some key developments that could signal a major breakout. Despite years of waiting and the impact of a lawsuit that began in 2020, XRP is showing promising signs, particularly with a bull flag pattern that could push it to new all-time highs. 
<a href="https://www.youtube.com/watch?v=r5lgt0eMPP0" target="_blank" rel="noreferrer noopener nofollow">Analyst Zach Humphries</a> said that in 2021, XRP saw a major price surge to $2, but the lawsuit kept the price from reaching its full potential. Now, with a bull flag forming on the charts, XRP could potentially reach $3.84 or even higher. The target of $7.50 is also in play if crucial levels are broken. 
XRP has been trading below its all-time high of $3.84 for over 2,400 days, and the ongoing lawsuit has certainly played a role in keeping the price down. However, the analyst believes that without the lawsuit, XRP would have already reached a new all-time high in 2021. 
<h2 class="wp-block-heading" id="h-will-the-bull-flag-emerge-successful">Will The Bull Flag Emerge Successful?</h2> 
This bull flag, supported by a strong uptrend followed by a consolidation period, is a reliable technical indicator of future price movements. The last time XRP formed a similar pattern, it surged by 60,000%. While a repeat of such a massive increase is unlikely due to the current market cap, a 10 to 15 times increase is still plausible. 
The 4.236 Fibonacci extension suggests a potential target of $16 for XRP in this cycle, though the analyst remains realistic about these projections. Reaching a $16 price point would mean a 25x increase from current levels, bringing XRP’s market cap close to $900 billion. However, even a more conservative target of $5 to $7 is seen as feasible, representing a 10x increase. 
Also Read: <a href="https://coinpedia.org/news/what-is-hyperbitcoinization-how-can-it-propel-bitcoins-value-to-10-million/" target="_blank" rel="noreferrer noopener">What is hyperbitcoinization? How Can it Propel Bitcoin’s Value To $10 Million?</a>

XRP Price Prediction: Analyst Suggests New Pattern Could Trigger 60,000% Surge; $7 on Cards

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