Cryptocurrency analysts continue to be very confident about the future of the XRP price, despite its penniless performance in the past. However, while some analysts have projected price targets that seem unrealistic to many, others have set more conservative targets. This is the case with cryptocurrency analyst Alan Santana, who just revealed his 6-month XRP price forecast.
The XRP price is ready for a bullish wave
Alan Santana visited TradingView to share your latest analysis at the price of XRP. This prediction is expected to come true over the next six months as the cryptocurrency market enters what is expected to be an explosive bull rally.
A cryptocurrency analyst believes that the altcoin’s price could significantly overtake other altcoins in this cycle. “he’ll probably be one of the first to make a big move… One of the first to make a big move!” – said the analyst. Santana also gives reasons for this state of affairs, and one of them is the fact that the waiting period between each wave of increases in the price of XRP has passed.
His analysis showed that the altcoin typically sees a 6-8 month gap between each bullish wave. However, it has been 308 days since the last bull run, well over 10 months. This means that the altcoin is more than ready for another bullish wave. He also added: “The fact that XRPUSDT has undergone a correction and has been consolidating for so long is considered bullish.”
Moreover, the altcoin is in an uptrend, recording higher lows. This is usually a bullish move for any asset because it suggests better price support as it rises. “Higher lows mean bulls have an advantage when it comes to the long-term trajectory of this chart,” Santana explained.
XRP could augment by 280% in 2024-2025
The cryptocurrency analyst expects a fairly rapid rally for the XRP price and stated that this will happen sometime in 2024 and 2025. The main reason is that the accumulation phase of the altcoin is finally coming to an end.
This opinion is also shared by another cryptocurrency analyst known as U-Copy. According to the analyst, The price of XRP has been accumulating over the last seven years, but it finally came to an end in 2024 and this end in the accumulation phase will lead to growth.
While U-Copy expects the altcoin to hit a fresh all-time high once the accumulation phase ends, which would represent a move of at least 600% from then on, Santana has taken a more conservative stance. The analyst expects the price of XRP to break above $1, but the maximum value is around $1.9 and $2. That would mean a 280-300% move from here.
“Once it starts rising, it will be really strong and for a very long time… People will wonder, ‘Why didn’t I buy when prices were low?’” the analyst concluded.
Featured image from CoinMarketCap, chart from Tradingview.com
