Crypto analyst Zach Humphries has identified a promising bull flag pattern in XRP’s price chart. This technical formation hints at an upside potential for Ripple’s digital asset.
Humphries suggests XRP could reach $5, $7 and even more during the next bull run. Such a move would represent a tenfold increase from current price levels.
Besides, this pattern suggests that XRP may reach new all-time highs, bringing substantial returns for long-term holders.
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XRP Pattern Signals Possible Breakout
Zach Humphries emphasized in his recent video the importance of the bull flag pattern forming on XRP’s chart. This set up comprises of a period of consolidation (flag) after a rapid upward movement (flagpole).
Humphries claims that this pattern frequently signals a breakout, which would cause XRP to rise over its previous all-time high of $3.40. If this breakout holds, he believes that XRP may hit $3.84, and if resistance levels are overcome, further targets may be reached.
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Show more +Short to Long-Term XRP Price Predictions
Humphries provides both short to mid-term and long-term price predictions for XRP. In the short to mid-term, he suggests that XRP could achieve a price between $5 and $7, representing a 10x return from its current levels. This prediction hinges on the continued bullish momentum and market conditions.
For the long-term, Humphries points to the 4.236 Fibonacci extension, which indicates a possible target of $16. However, he notes that reaching this level would require substantial institutional demand and favorable market dynamics.
Read also: How Much Kaspa is Enough? KAS Price Analysis
Strategic Patience: A Key to Success
Humphries advises investors to exercise patience, as the timing and scale of the potential breakout depend on broader market conditions and institutional involvement. He concludes by stressing that while a 10x increase is feasible, the extreme gains seen in previous cycles are unlikely.
Nevertheless, the bull flag pattern and the ongoing developments surrounding XRP suggest that strategic patience could yield substantial rewards for those willing to hold.
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