XRP Price Prediction: 64% Rally to $5 Expected by Popular Trader

What to Know:

• XRP is predicted to make a decisive move, possibly reaching $5.
• The prediction is based on a three-day candle close and a potential break of the descending line on the chart.
• If successful, XRP’s market value could increase by $100 billion, drawing comparisons with Ethereum.

Renowned trader, Cold Blooded Shiller, who commands the attention of 344,000 followers, anticipates that Ripple’s XRP is on the brink of a significant shift. His forecast is based on a critical three-day candle close and the potential shattering of the falling line on the graph. According to Shiller, this combination could catapult XRP directly to $5.

Currently, XRP’s price is hovering at $3.04, facing resistance between $3.20 and $3.30 — a hurdle bulls have been struggling to overcome since August. Shiller’s chart indicates a prominent downtrend line suppressing price movement. If this restrictive ceiling is breached, the next aim is $4.20, with $5 appearing as the upper limit.

Such a price hike would represent a 64% leap from the current rate. This optimistic forecast is not unfounded. In November of last year, XRP skyrocketed from $0.56 to $1.34 within three weeks, following a similar pattern of growth. Earlier this year, it surged from $1.50 to $3.80 in less than two months. The recent price prediction suggests that a swift ascent to $5 is now feasible, citing past explosive growth as evidence.

The market environment further supports this prediction. Open interest in XRP futures has surged past $8.64 billion, marking the highest point since July. Funding rates are leaning towards the positive side, implying that traders are already preparing for an upward swing.

Should this breakout prove successful, XRP’s market capitalization could swell by over $100 billion. This would thrust it into the $270 billion range, prompting comparisons with Ethereum’s standing in the crypto market.

In conclusion, the current market condition and historical patterns suggest a promising future for Ripple’s XRP. As the crypto market continues to evolve and institutional adoption increases, the potential for significant price movements becomes increasingly possible. However, as always, investors should proceed with caution and conduct their due diligence. The world of cryptocurrencies, while potentially lucrative, is also fraught with unpredictability and risks.

Related: XRP Price: $12M Max Pain for Bears