XRP On Monthly Timeframe Suggests Likely 700X Surge to $305

Analyst Heikin Ashi on TradingView has proposed that XRP could be amid an explosive bull rally culminating in a 710X price surge to $305.

In a recent post on X, Ashi called attention to XRP’s candlestick patterns on the monthly time frame, identifying a bullish signal. He highlighted that current patterns show remarkable resemblances with historical trends, suggesting the coming months could be rewarding for XRP holders.

Notably, this analysis comes at a time when XRP persistently exhibits discouraging performance, hitting low price points that were last seen in over a year. Yesterday, XRP bottomed at $0.3911, though it has slightly recovered, trading at $0.4286 at press time. At this value, XRP shoulders a loss of over 18.22% in its monthly performance.

Meanwhile, analysts like Ashi believe XRP’s current trajectory rhymes with occurrences of previous periods that were later followed by violent price pumps. He sees a similar scenario playing out soon.

Historical Observation on Monthly Time Frame

His analysis shows that XRP first exhibited a protracted downtrend in the monthly time frame between 2014 and 2015. At the time, XRP traded with two leading zeros in mid-2014 until it bottomed out at around $0.003. By the start of 2015, XRP had already soared by 10X to trade around $0.025.

A similar occurrence occurred between 2016 and 2017 when XRP was back trading with two leading zeros. After its initial bottom value, XRP went on a brief price rally until the last quarter of 2017, when it pulled a violent stunt.

Notably, the analyst’s chart pointed out that the XRP monthly pattern formed a symmetrical triangle between its 2014 bottom and the subsequent high before the 2017 new bottom. This formation set the stage for the aggressive pump that propelled XRP to a $3.84 all-time high by January 2018. Specifically, XRP surged by over 75,000% during this period.

After hitting the ATH, XRP commenced a downtrend, leading to a bottom of $0.14 in early 2020. The 2021 bull cycle helped XRP to recover briefly, reaching $1.96 in April that year. Meanwhile, the following bear market forced the asset to around $0.3 in late 2020.

On the monthly time frame, XRP’s candlesticks formed another symmetrical triangle between the two bottom prices of 2020 and 2023 and the brief pump in 2021. Analyst Ashi believes the stage is now set for another violent price pump to occur amid the remarkable echo of these historical patterns.

#XRPUSDT ON THE MONTHLY TF
JUST LOOK HOW CLEAR ALL POINTS AND RETRACES ARE OF THESE FRACTALS…..
HISTORY RHYMES!!!!
UP COMING MONTHS…. #0DOUBT #XRPCommunity https://t.co/OYkKG1yY4q pic.twitter.com/OeVE6wyBLO

— LUDXRPFLR🇳🇱☀️⚡ (@ludnlxrp) July 2, 2024

How XRP May Surge by 71,061% to $305

He foresees the monthly pattern that played out in 2017 to resurface this season. In particular, he superimposed the 2017 aggressive wave on XRP’s current pattern and suggested that XRP could rally to $305 before 2026. This price level would mark an astonishing 71,061% growth for XRP.

Notably, the chart suggested that the projected price pump would occur in stages, starting with an initial rally to $1.2 and $2. This would set the foundation for a subsequent surge to $6 and $16 before the ultimate $305 price point.

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