XRP finds itself in a critical position as market turbulence continues. February saw a 12.57% decline, marking the first bearish close since its November 2024 uptrend began. Despite this downturn, analysts hold conflicting views, with one suggesting an unexpected bullish breakout.
The Bullish Case: An Inverted Chart Perspective
Market analyst EGRAG Crypto believes XRP’s recent decline was necessary to complete a symmetrical triangle pattern, which often signals a bullish breakout. Meanwhile, Steph (@Steph_iscrypto) offered an unconventional take by flipping the chart upside down.
His analysis humorously warns of an impending XRP “crash,” but in reality, it signals a major rally. According to Steph’s perspective, XRP has gone through three similar “crashes” since 2013. Each of these supposed “crashes” actually represented significant price surges.
In 2013, its price surged 946% to $0.06144. The 2017-2018 rally saw an astounding 68,300% increase, bringing the price to $3.80. The third rally, from 2020 to 2021, resulted in a 1,031% surge, reaching $1.96.
Could XRP Reach Double Digits?
If history repeats itself, XRP may be on the verge of another massive uptrend. Steph’s chart suggests a possible trajectory toward $100, though skeptics question this price due to the market cap required.
Other analysts share bullish expectations. Polly predicts XRP could hit $6 this month, while Bitcoin advocate Davinci Jeremie expects the token to reach $24. Currently, it trades at $2.65, leaving ample room for upward movement if these forecasts materialize.
What Could Drive XRP’s Price Surge?
The potential inclusion of XRP in the U.S. digital asset reserves and ETFs remains a hot topic. If approved, this could attract significant institutional investments. Additionally, historical patterns suggest XRP follows Bitcoin’s cycles, meaning if BTC continues to rise, XRP could follow.
Risks and Uncertainties
Despite bullish projections, risks remain. XRP’s ongoing legal battle with the SEC could impact its market trajectory. Market volatility also poses a challenge, as past performance does not guarantee future results. Some analysts remain skeptical about XRP’s price reaching $100, as such a price would require an enormous market cap.
Read Also: XRP Price Skyrockets 6% to $2.70—Is $3 Next?
In conclusion, XRP appears poised for a major move. Investors should watch for key breakout signals while managing risks. If past trends continue, the token may see another explosive rally. Whether it reaches $6, $24, or beyond remains uncertain, but historical data suggests a significant price shift is approaching.
