The price of Ripple (XRP) is predicted to reach $15 an X post by @CryptoELITES. When the expert analyst shared Ripple price update at $0.60, those who held on to their token would have seen around 300% profit when the token reached approximately $2.40.
The analysis notes that Ripple’s current movement resembles its performance in 2017, a time when it experienced a massive rally. With this bullish outlook, the targets for Ripple are set at $6.5 and $15.
One of the key features of the analyst’s chart is the cup and handle formation. The price has broken above the neckline, which acts as a resistance level. This suggests that a rally may be on the horizon.
A Parallel with 2017 Chart Pattern
Furthermore, the analysis draws parallels to Ripple’s performance in 2017. The current movement indicates that XRP price might be on a similar trajectory. This is raising optimism among traders. The breakout has also been confirmed by the price successfully surpassing a long-term descending trendline that previously acted as resistance. A retest of this breakout level provides strong confirmation of the ongoing uptrend.
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The analysis sets several price targets for Ripple. The first major target is $3, which aligns with a historical resistance level. Next, $6.5 is seen as a potential mid-term target, based on Fibonacci extensions and historical price actions. Ultimately, if the momentum continues, the analysis suggests that Ripple could reach the ambitious target of $15.
Looking at past performance, XRP was initially shared at $0.60. With the current price around $2.40, this represents a 300% gain. If XRP reaches $6.5, the gain would exceed 980% from the original price. Should it hit $15, the return would be an impressive 2,400% from that initial point.
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