Famous analyst comments on Ripple (XRP): “It will reach $225!”
Crypto analyst Amonyx stated that Ripple’s (XRP) chart is “ready to explode.”
The crypto market had a slow start to November. Bitcoin and XRP tested support levels by falling 3.5 percent in a short time. XRP, which ranks 7th by market value, declined by 1.42 percent, 5.08 percent and 17.51 percent in weekly, monthly and annual time frames, respectively.
Crypto expert Amonyx reassured his followers with his latest analysis. The analyst detected a bullish pattern in the XRP chart and stated that the popular altcoin is ready to explode.
On November 2, Amonyx increased expectations for XRP with a post on X (formerly Twitter). Amony pointed out a symmetrical triangle formation in the 1-month time frame chart he shared. The crypto expert stated that $XRP will reach a new all-time high (ATH) with the formation.
The analyst's chart shows an ambitious price target of $ 225.9. This means an incredible increase of 44,694 percent from XRP's current price.
As you may recall, $XRP experienced a 60,000 percent increase from 2017 to 2018 and reached ATH ($ 3.31). The popular altcoin peaked when it broke out of a symmetrical triangle formation. Amonyx took its targets to even higher levels with the formation of the same formation.
Although Amonyx's price target of $ 225.9 seems extreme, Ripple is still far below its fair market value. For example, capital firm Valhil Capital reported that XRP, which is ranked 7th by market value, should be $ 3,541 according to ecological systems and dynamic adoption criteria.
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