XRP Price Setup For Largest Bull Flag In History, $16 Coming?
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Ripple’s native cryptocurrency XRP has been showing strong price action recently with another attempt on Saturday to breach past the crucial resistance of $0.65.
However, the XRP price sees some rejection there forming another base at $0.60 levels. This is the third time that cypto is seeing rejection at $0.56 within a months time, however, analysts continue to stay bullish for the Ripple cryptocurrency.
XRP Price Ready for Largest Bull Flag in History
Popular handle Good Morning Crypto on the X platform, recently shared a chart explaining how XRP is gearing up for the largest bull run ahead in the next year 2025.
The analyst recalled the 2017 bull run when the price surged by a staggering 60,000% moving all the way from $0.006 to an all-time high of $3.84.
It’s been nearly 2,424 that the XRP price has been trading much below its all-time high levels, especially due to the legal battle surrounding Ripple and SEC over the past four years.
However, with the lawsuit proceeding towards settlement, the current state of XRP brings major legal clarity surrounding the altcoin.
Currently, the technical analysis points to a possible 4.236 Fibonacci extension, which could see it reaching $16 in the current cycle, noted the analyst.
As the crypto community buzzes with predictions, the big question remains: What will XRP’s peak price be in 2025?
However, before the mega bull rally, the XRP price first needs to cross $0.65 convincingly which would open thee gates for further rally to $1 in the near term.
