19.4 C
25 June 2024
Image default

Ripple Nears Major Converging Point: Analyst Says XRP Could Breakout

Ripple (XRP) is approaching a critical juncture that could potentially lead to a massive price surge, according to a recent tweet by prominent analyst JAVON MARKS.

The analyst has identified a major converging point and an RSI (Relative Strength Index) pattern. The pattern suggests underlying momentum in XRP’s price, setting the stage for a bullish breakout.

Also read: Ripple: How High Can XRP Pump in June 2024?

The Path to a 2,000% Price Surge

JAVON MARKS’ analysis indicates that a “conservative” target for XRP following a breakout and logarithmic follow-through could be between $15 and $20. This would represent an astonishing 20X to 36X increase from the current price levels. This translates to a more than 2,000% run.

The analyst points to the signs of bullishness in XRP’s chart, suggesting that time may be the only factor standing in the way of this impressive price appreciation.

Also read: Cryptocurrency: Top 3 AI Coins That Could Surge 100% in June

As the cryptocurrency market eagerly awaits the resolution of Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC), a favorable outcome could further fuel XRP’s potential breakout.

Expert Price Predictions for June 2024

Cryptocurrency experts at Changelly have also weighed in on XRP’s future price trajectory. According to their analysis, XRP is forecast to reach a minimum price of $0.554 and a maximum price of $0.641 in June 2024. The average price of XRP during this period is expected to be around $0.598.

The Changelly predictions, while more conservative than JAVON MARKS’ targets, still indicate a bullish outlook for XRP in the coming year.

Also read: Top ERC-20 Cryptocurrencies To Buy Now As Ethereum ETF Approval Looms

Nonetheless, the potential for a notable breakout and the expert price predictions for June 2024 have placed Ripple (XRP) firmly in the spotlight.

Related posts

U.S. Dollar vs Indian Rupee: INR Forecasted To Fall 84.76


Ethereum [ETH/USD] Technical Analysis: Bulls persist with the cryptocurrency on a long run


Ethereum Blockchain Records 1 Billion Transactions

Verified by MonsterInsights