- Altcoin XRP price could experience massive surge.
- Analysts find history rhyming with a bullish twist.
- Could Ripple’s XRP hit a new ATH soon?
As the prices of Bitcoin and Ethereum take a dip this week, sights shift to promising altcoin assets. Will these cryptocurrencies keep their pace and stick to their bullish structures, or will they fail to beat resistance and take another dip? Presently, altcoin XRP price could experience massive surge as analysts find history rhyming with bullish twist. Bullish analysts share their positive expectations on Ripple’s native asset.
Altcoin XRP Price Could Experience Massive Surge
Of the many popular altcoins in the market, Ripple’s XRP is one of the most-watched altcoins in the space. Ever since its nearly 8-year-long battle with the SEC concluded in favor of Ripple and XRP earlier this bull cycle, analysts have been eagerly watching the asset’s price chart to predict any possible bullish price surges. So far, the asset has experienced two bullish price spikes, yet no new ATH.
In fact, Ripple’s native asset was surging right alongside BTC and ETH 8 years ago before the asset hit a snag with the SEC case. This brutal fight led to falling XRP prices and missing bull market spikes. Ultimately, the conflict kept XRP from reclaiming its previous ATH price in the $3.8 price range, and the closest it got was the recent bull cycle when XRP price neared the $3 price mark, but failed to break through.
Presently, according to CoinMarketCap data, the price of XRP is trading at the $1.92 price range, showing that it is trading lower than 2.5% on the 24-hour price chart and below 6.6% on the weekly price chart. The asset is also boasting a total market cap of $116,851,110,108.92 and a 24-hour trading volume of $2,903,010,084, marking a respective dip of over 2.7% and 18.77%.
XRP History Rhyming with Bullish Twist
Despite this decline in price, several bullish analysts and XRP enthusiasts believe that XRP is on its way to reclaim its previous ATH price and surge further to enter its price discovery phase. However, on how much the asset is expected to surge differs based on analysts and the timeframe, taking the ATH possibilities for XRP to go from $5 to $27, and perhaps even further this New Year.
As we can see from the post above, XRP may see its history rhyming with a bullish twist. The post marks how, after years of consolidation, XRP is breaking out like its 2017 epic run to $3.80. Historically, XRP’s largest rallies have emerged after long periods of sideways movement, followed by sudden vertical breakouts. That same volatility squeeze may now be in play. Now in a rectangular continuation pattern on the monthly chart, holding key Fib levels (0.618 support) & eyeing 1.272-1.414 targets for parabolic gains.
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