As the main pieces begin to fall into place, XRP may now be ready where things are going well for its future price trajectory. While XRP enthusiasts are still reeling in amazement over Ripple’s recent win in court, a crypto analyst has dropped a bullish XRP price prediction that investors can sit up for. In line with the analyst generally known as Jaydee, XRP is getting near skyrocketing into latest price territories.
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Analyst Predicts XRP Rally To $7.5
XRP days of trading lower than $1 could also be ending very soon, based on a recent price prediction by crypto analyst Jaydee. The analyst made this known while sharing an ultra bullish prediction on social media platform X. In line with the XRP/USD bi-weekly price chart shared by the analyst, a six-year trendline is finally drawing to an in depth. This trendline closure could signal the beginning of a large bull run.
Interestingly, Jaydee’s technical evaluation is predicated on a non-logarithmic price scale for XRP and a previous occurrence. Despite the worth swings up to now six years, XRP has broadly traded inside a descending channel since its record peak of $3.40 in 2017.
The upper resistance line has capped upside around $1.90, while the lower support line has held above $0.14 through the multi-year bear market. Nevertheless, recent price motion suggests all the 6-year downtrend is now wedging towards an apex. The contracting range is leaving less and fewer room for XRP to fluctuate between resistance and support.
XRP is now trading at $0.48. Chart: TradingView
XRP Set For A Breakout
As identified by Jaydee, this only suggests XRP is ready for a breakout to the upside. Moreover, the analyst indicated a price goal of $7.5 when XRP finally surges. With XRP currently trading at $0.4873, this price goal represents a rise of 1,430%.
While which will sound outlandish, the analyst points to an identical price cycle between 2013 and 2017 to justify such an explosive move. Notably, an identical breakout of a five-year descending triangle pattern saw XRP surge over 600x to peak at $3.4.
Jaydee also noted “dumb money” traders will eventually be left behind through the surge. “We’ll ensure to take PROFITS on Dumb Money! It is going to be a FUN but VERY SAD cycle for many,” the analyst said.
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Whether XRP can replicate those blistering gains stays to be seen. Despite his outrageous bullishness, Jaydee did reply affirmatively to a comment mentioning that this cycle may very well be different from the 2017-2021 cycle. Taking a look at XRP’s chart, some key resistance zones to observe are around $0.54, $0.63, and $0.8.
Featured image from Adobe Stock, chart from TradingView