#XRP $589!?
The cryptocurrency market is changing rapidly, and prominent analyst Amonyx sparked widespread discussion with his bold prediction that the price of XRP could soar to $589.
In his post, Amonyx emphasized that no matter how many people doubt it, the price of XRP is bound to rise significantly and enter the triple-digit range.
His market chart shows how the price of XRP could rebound to highs of $589. While this prediction is primarily based on technical analysis, he did not elaborate on other potential factors.
According to charts from Amonyx, XRP has historically seen a giant symmetrical triangle pattern, which has propelled XRP to new all-time highs before.
Between 2017 and 2018, the price of XRP soared by more than 75,000%. Now, XRP is once again at a breakout point, and many market observers believe the price could rise sharply again.
Amonyx believes that the price of XRP could surge to $589 this time around.
Although this goal sounds very aggressive, according to his analysis, it is not completely impossible.
However, many people also expressed doubts about this prediction, thinking that it was just whimsical. Some commentators even humorously said, "Have you smoked too many cigarettes?" to express their doubts about this prediction.
Still, there are some market participants who believe the price increase could be stronger this time around as the utility of the XRP network expands.
They believe that XRP still has huge potential even if it fails to reach $589 during this bull run.
