This Crypto Analyst Says XRP Could Hit $80: Here’s Why

XRP, the cryptocurrency linked to Ripple Labs, could be on the verge of a significant price rally, according to an analyst.

Based on technical analysis shared on social media platform X, Amelie predicts that XRP could soon surpass $1 and potentially establish a new price floor at that level.

Imagine selling #XRP now…

You never know when we’ll take off to the moon and you’ll never see XRP under $1 again –

I am ready for life-changing gains! 📈 pic.twitter.com/pXCNOeukJ2

— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) June 28, 2024

Amelie shared a screenshot of a weekly XRP chart, showcasing various analysis tools, including sideways triangle patterns and Fibonacci resistance levels. The chart illustrated XRP’s historical price trends and pinpointed crucial levels, including a symmetrical pattern that could potentially repeat, triggering a bull run.

Amelie’s screenshot encompassed XRP’s entire price history, dating back to the pre-2014 era. The analysis divided XRP’s life cycle into two symmetrical sections, each comprising five phases.

These phases include an initial rally, a significant pullback, a minor rally, a sideways triangle, and a final surge. Notably, the surge from the initial section coincided with XRP’s 2017 bull run, marking its most significant rally to date, with gains exceeding 30,000% in a few months.

In Amelie’s analysis, the 2017 surge marks the initial rally in the second section of the XRP price chart. She suggests that the altcoin has nearly completed every phase in this new section, with only the breakout from the sideways triangle remaining, which could initiate a parabolic rally.

Similar to the previous section, XRP’s price is currently at the lower level of the sideways triangle, a point from which it could rebound to trigger a bull run, assuming the pattern repeats. This aligns with Amelie’s prediction of an imminent rally. Using Fibonacci levels, the crypto analyst forecasts that XRP’s next bull run could propel the altcoin close to the $80 region, potentially occurring between now and early 2025.

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