Ripple (XRP) Anticipated to Jump 487%, Analyst Highlights This Price for Smart Buys

XRP maintained its overall uptrend despite plummeting from nearly $0.75 due to a fake ETF filing. According to crypto analyst JD, his bullish long-term outlook remains intact, with key resistance levels representing the final obstacles before an eventual surge to $3.80.

JD’s recent analysis came as XRP was corrected following reports of a fraudulent BlackRock iShares XRP exchange-traded fund (ETF) filing. The rumors briefly sent XRP surging close to $0.75 before credible sources debunked the filing as fake.

Looking past the noise, JD noted XRP continued trading in the $0.63 to $0.69 range seen prior to the erroneous news. After dropping to support, XRP held its ground and posted higher highs and higher lows, confirming the uptrend’s persistence.

Per the analyst’s chart, XRP has been carving out a large symmetrical triangle since crashing from $1.96 in April 2021. It broke out emphatically in July amid positive Ripple-SEC developments, hitting $0.93 before pulling back. August’s retreat retested triangle resistance before XRP rallied again in September and October.

Despite potential short-term weakness, JD remains adamant that the weekly uptrend will continue. If XRP declines further near-term, he highlighted $0.41 to $0.48 as an ideal dollar cost-averaging zone. Still, he ultimately sees XRP exploding to $3.80 once it finally overcomes the $0.80 level and other key resistances.

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In summary, JD believes XRP remains on solid technical footing for an eventual bull run despite recent fake news-induced volatility. Traders can deploy appropriate strategies to capitalize on both short-term fluctuations and the broader multi-month rally if key levels are conquered.

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Felix Küster
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.