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Bitcoinist 2025-07-06 01:00:13

Analyst Who Predicted 600% XRP Price Rally In 2024 Says Next Leg Up Will Be ‘Parabolic’

Analyst Who Predicted 600% XRP Price Rally In 2024 Says Next Leg Up Will Be ‘Parabolic’

A crypto analyst who previously forecasted a massive 600% XRP price surge in 2024 is once again drawing attention with a new technical analysis of the cryptocurrency. This time, the market expert says that XRP is getting ready for its next parabolic leg up. XRP Price Setup Signals Violent Upswing The latest XRP price analysis by market expert Crypto Michael indicates that the top altcoin has just concluded a significant period of consolidation and could be poised for an extremely explosive upward move. In his X post, the analyst shared a supporting chart, capturing XRP’s price action from 2017 to 2026, based on a long-term quarterly candlestick view. Over these years, XRP formed a large symmetrical triangle through a convergence of trendlines, illustrating a prolonged phase of price compression and market indecision. This chart pattern, extending from a peak in 2018 through to mid-2024, culminated in a decisive breakout in 2025. With Crypto Michael now considering XRP’s prolonged consolidation complete , technical indicators show a shift into a buildup phase ahead of the next major leg up . The analysis also highlights that this consolidation was necessary to accumulate buying pressure and position XRP for a shift out of its downtrend. Moving forward, the XRP price chart shows that the analyst expects a breakout from the symmetrical triangle soon. Once the cryptocurrency crosses the upper boundary of the triangle, a sustained move above key resistance levels could serve as a strong bullish signal. While the analyst has not explicitly outlined the exact target for his optimistic projection, the trajectory of his chart highlights that the XRP price, currently sitting at $2.22, is set to move upward. Analyst Sets Next XRP ATH Target Above $80 In other news, crypto analyst CW has dropped another incredibly bold forecast for the XRP price. The market expert presented a compelling multi-cycle chart, suggesting that XRP is in the final stages of a long-term consolidation and is now gathering momentum for a massive breakout . According to CW’s chart analysis, XRP has been in a six-month accumulation period, similar to patterns seen in previous markets. This steady accumulation phase appears to be forming a converging triangle, which historically is a precursor to major upward moves. Now at the cusp of a breakout, especially after testing the previous ATH region, the analyst suggests that XRP is finally stabilizing, interpreting this calm as a steady energy build-up for the next surge. If historical patterns hold, a surge beyond ATH prices could ignite a vertical rally. The chart identifies the first target at the previous ATH level above $3.8, followed by a second target around $21.5. The final target, representing phase 5 of the analysis, points to a parabolic surge beyond $80. Featured image from Pexels, chart from TradingView

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