Analyst: XRP will rise in price by 46,900% by the end of 2024
Using trendlines, a technical analysis tool to determine the direction of cryptocurrency price movement, the analyst known as Block Bull predicted a breakout of XRP to $250 before the end of this year.
Sharing with his subscribers a graph showing XRP price dynamics from 2015 to 2024, the cryptanalyst noted several supercycles that the coin has experienced. It showed that the asset witnessed a breakout in 2018, occurring 36 weeks after the Bitcoin halving, which ended 77 weeks after the reward cut.
Following the 2021 halving, XRP also experienced another breakout in 36 weeks, reaching an interim peak in week 48. Based on this timing analysis of the asset's price, the analyst predicts a parabolic jump in the price of XRP in the current market cycle, which could begin 36 weeks after the last halving.
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