XRP Poised For Over 5,000% ‘Explosive Charge’, Analyst Says
August 28 2024 - 11:00AM
NEWSBTC
XRP once more takes the center stage in crypto as momentum for the
altcoin’s price builds up. Over the weekend, XRP jumped 8% to a
high of $0.63 before it settled slightly lower at $0.6131. Although
it witnessed this minor pullback, analysts are sharing their
predictions on the token. Specifically, two popular personas in the
crypto analysis world, Bobby A. and GoldE33, predict that XRP is
ready for a key breakout. Related Reading: Floki Bullish Breakout
Ignites: Could A 96% Surge Be Next? Bobby A. thinks that XRP is
poised for an “explosive charge”, while GoldE33 highlights a key
technical indicator that could support this bullish outlook. The
analysts shared their thoughts on X, formerly known as Twitter,
thinking the same – that it may push the altcoin up past its
current resistance levels. Bobby A.’s charts reveal a very
promising breakout pattern on the monthly timeframe, while GoldE33
identifies the shrinking Bollinger Bands as a sign of an imminent
price explosion. An explosive charge ready to go high order. #XRP
⚒️ pic.twitter.com/93zeWYKgSh — Bobby A (@Bobby_1111888) August 24,
2024 Resistance And Possible Breakout Bobby A. is quite
straightforward with his predictions. He’s set the first target at
$0.87 — a 45% increase from its current price of $0.60 for XRP.
Were XRP to reach that level, it would be considered major as it
heaves the token well above its long-term descending trendline.
This could mean the change in market sentiment from bearish to
bullish, providing an uptick in investors that might drive the
price even higher. And the road back to higher prices is filled
with obstacles. Thus, Bobby A. has identified a number of
resistance levels, which the XRP price would have to break through
as it edges closer to its previous all-time high of over $3. A
breakout above this level would be monumental indeed, possibly
opening the floodgates for XRP in uncharted territory. But the
analyst remains hopeful; he says when XRP clears the $3 mark, a
smooth sail toward $5.31 could be highly expected. The Role Of
Bollinger Bands While Bobby A. used resistance and potential price
targets in his analysis, GoldE33, on the other hand, makes use of
Bollinger Bands, a tool used for the measurement of volatility and
price action. #XRP – Bollinger Bands – When BB get thinner, it
means a BIG move is coming! BB got thinner last two cycles that led
to a 10x-650x in a year! I called bottom, I’ll call TOP next!
Posting HUGE 5 chart update on Patreon/Discord next week w/targets!
400 Retweets for update on X!… pic.twitter.com/IlkI0BmwqK — JD 🇵🇭
(@jaydee_757) August 26, 2024 According to GoldE33, contraction on
the XRP chart in the Bollinger Bands is usually a sure sign of an
approaching increase in price. To give a bit more credibility to
his statement, GoldE33 refers to two other events in the history of
the XRP chart when the Bollinger Bands contracted. Both times,
strong upward movements happened. In one instance, XRP’s price
jumped 10-fold, while the other saw the price jump an incredible
650 times. And that historical context gives credence to the
argument that XRP might be very close to making a big move. Related
Reading: Helium: Development Proposals Ignite 15% HNT Price Rally –
Details Profit-Taking Zones And Long-Term Prospects First, Bobby A.
has pointed out that $5.31 is his main profit-taking zone for the
short-term gain taker. If XRP managed to get to this level,
investors who have bought at the current price would register
unprecedented returns. For longer-term positions, the potential
rewards might be higher. His most ambitious forecast looks for XRP
to reach as high as $33, which is a colossal 5,387% increase from
today’s price. If XRP were to reach this level, most definitely it
would join those cryptos that have given awesome returns. Given the
recent price action of the XRP and the technical signs that
analysts such as Bobby A. and GoldE33 identified, this token is
setting up for a big move. Considering the difficulties lying ahead
of it, it would be seen whether it can pierce through these or
reach these lofty targets set by these analysts. For now, the
market watches closely, with optimism building around the potential
of XRP for a historic rally. Featured image from Pexels, chart from
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