XRP Poised for Massive Rally? Analysts Eye Bullish Breakout After First "Green Flip" Since 2017
The cryptocurrency market is buzzing with excitement around XRP, as prominent analysts observe a pivotal technical signal: the asset has "flipped green" on quarterly charts for the first time since its historic 2017 bull run. This rare phenomenon has ignited highly optimistic price predictions, with some experts forecasting a multi-fold rally in the near future.
Bullish Momentum and Ambitious Price Targets
Leading the charge, crypto pundit Mikybull Crypto highlighted XRP's significant "green flip," a technical indicator not seen since 2017. Based on this, he projects a staggering rally of up to 500%, potentially pushing XRP's value to $15. Mikybull Crypto underscored that XRP has successfully breached key resistance levels, a move reminiscent of its breakout performance in 2017, signaling an impending "big move" and "mega breakout." Further amplifying the bullish sentiment, analyst Egrag Crypto presented an even more ambitious forecast, suggesting XRP could ascend to an impressive $33, drawing direct comparisons to the asset's parabolic surge during the 2017 bull cycle.
Navigating Potential Corrections and Critical Support Levels
Despite the strong bullish outlook, analysts are urging caution regarding potential short-term price movements. Egrag Crypto notes a 70% probability of a "flush out" – a temporary price correction – which he deems a healthier development for a sustainable uptrend. He anticipates a drop to at least $2.65, with a possibility of further decline into a "fair value gap" between $2.35 and $2.40. Conversely, there's a 30% chance of an immediate surge, though this could lead to a sharp correction afterward. Adding to this cautionary perspective, crypto analyst CasiTrades identified bearish divergences in XRP's current chart patterns, suggesting that lower support levels might need retesting before a significant upward breakout. Key support levels to monitor are $2.79 and $2.58. A decisive break below the $2.58 mark would, according to CasiTrades, invalidate the current bullish market structure. For a sustained "wave 3" move, XRP needs to break cleanly above macro resistance levels at $2.79, $3, and $3.25 without hesitation. At the time of reporting, XRP is trading around $2.8, experiencing a slight dip over the last 24 hours.
