XRP has been in an accumulation phase for the past seven years, but analysis suggests a breakout could be imminent. In a YouTube video by Bleeves Crypto, the analyst argues that there are important signs that growth could be on the horizon, despite the current XRP price appearing to be quite stagnant.
The expert believes that XRP could be poised to rise to $1.25 in the near term, with a long-term target of around $25. The crypto community is eagerly awaiting a price explosion.
Fibonacci retracement levels and the golden ratio
The analysis begins by looking at XRP’s recent price action, specifically through the Fibonacci retracement tool. XRP reversed in July, starting a slow rally, according to Bleeves Crypto. Supported by the Golden Ratio (161.8%) on the Fibonacci scale, this uptrend suggests a temporary rally to $1.10.
While it may not be that dramatic, experts claim that this could signal the start of a larger price movement. The Fibonacci tool depicts the Golden Ratio between 0.5 and 0.618. XRP has crossed this range, indicating positive sentiment in the market.
7-year cumulative model
One of the notable aspects of XRP’s price action is the accumulation phase that has lasted for more than seven years. Bleeves Crypto points out that XRP remains stuck in a wedge pattern, with no significant breakout since its previous high in 2017.
Furthermore, this prolonged accumulation has been frustrating for many XRP holders, but experts assert that it may be setting the stage for a breakout.
XRP Price Prediction Short Term and Long Term
In the short-term forecast, Bleeves Crypto expects a breakout that will push XRP to $1.25. This target is in line with the upper limit of the current price range. For the medium-term growth, XRP could rise to $3.31, matching the previous high.
However, in a perfect long-term scenario, the analyst believes XRP could hit $25, especially if the asset gains traction as a leading global payments provider.
With XRP currently trading around $0.58, the analyst concluded that XRP’s market capitalization, currently around $32 billion, could increase 30-fold if XRP reaches Bitcoin’s equivalent value. This analysis suggests that XRP’s growth potential remains, despite many uncertainties.
