Analyst Predicts XRP’s Potential Surge to $5 Amidst Significant Whale Activity

The XRP token has seen intense discussion and debate recently around its near-term price outlook, with predictions spanning continued declines or a major bull run emerging.

Market Analysis

Per analysis by altFINS:

  • Near-term bias: Bullish
  • Possible swing trade entry around $0.55
  • Upside targets of $0.68, then $0.92

They note XRP has filled the upside gap from its July spike to $0.92, making lower highs in the process to form a downtrend. However, with the price approaching the $0.55 support level confluent with its 200-day moving average, a technical bounce could unfold.

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Conflicting Predictions

However, predictions remain mixed from various analysts:

  • Trader EGRAG sees potential for an explosive “90-day rally to $5” as part of a broader bull market unfolding.
  • Meanwhile, XRP Captain highlights major XRP transfers between exchanges, suggesting “someone knows something huge” that could pump prices.

On the other hand, the altFINS assessment points to a still-intact downtrend in place in the short and medium-term timeframes. And with bearish momentum signals persisting, they appear more guarded against calling a new bull run already underway.

Source: altFINS – Start using it today

So XRP may remain at a crossroads currently, with its next directional move potentially significant in either confirming or denying the early bullish prognostications. The cluster of technical support around $0.50 to $0.55 could be an inflection zone to watch before a lasting trend becomes clear.

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Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.