The price is XRP He continued his sharp correction In the last 24 hours, it is currently around the $2.2 price level. However, analysts are still concerned that the price of XRP will reach an all-time high soon, and offer some predictions in this regard. Double digit threshold at $10 and above. Interestingly, cryptocurrency analyst Cryptoinsightuk recently shared his thoughts on social media platform X, drawing attention to XRP's potential roadmap to achieving this ambitious goal.
Mirroring the 2017 XRP price pattern
Cryptoinsightuk has It brought a compelling perspective It is notable for the ongoing XRP price correction and its previous rally What is its current path? It is similar to the movement experienced in 2017. At that time, XRP stabilized slightly in early 2017 before going on a strong rally that continued into 2018.
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With that in mind, technical analysis from Cryptoinsightuk pegged the price action at the time to be in line with XRP's previous breakout in early October. Accordingly, if XRP continues the pattern of 2017, the cryptocurrency could repeat this crazy move in 2025.
Interestingly, analyst coverage of the 2017 price shows that XRP's 460% breakout from the $0.5 range in early October is halfway to repeating this move. If this trend continues, the analyst expects XRP to reach above $10 in the first quarter of 2025.
However, Cryptoinsightuk's predictions are beyond this initial target of $10 in the first quarter of 2025. If the price of XRP continues to mimic the historical movement after the first quarter, the analyst predicts what he describes as a “Son of the Moon Snowball”. This phase, characterized by a parabolic rise in price, could take XRP to $35 by the third or fourth quarter of 2025.
Factors to pressure XRP's uptrend
CryptoinsightUK's bullish outlook for XRP hinges on the cryptocurrency's ability to repeat its 2017 move. During that time, XRP's parabolic rally slowed from below $0.0060 until it reached its current high of $3.40. According to the numbers, this increases to about 56,000 percent over 12 months or so.
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While XRP is currently in a positive market for continued strong bullish momentum, market conditions in 2024 will be different from those in 2017. In addition, the amount of input capital required to reach $10 or $35 at this stage will be much higher than it is at this stage. In 2018, it reached 3.4 dollars.
However, Increasing institutional participation and factors such as political and Expected regulatory positivity In 2025, it shows that the price of XRP can nevertheless have a comparable increase. In addition, broader crypto market trends, such as Bitcoin's performance, could contribute to the projected price increase of XRP.
At the time of writing, XRP is trading at $2.18. Hitting the $10 and $35 price targets would translate into a 358% and 1505% move, respectively.
Featured image created with Dall.E, chart from Tradingview.com
