🔥🔥🔥 Top Investor Expects to Make $1.5M with $XRP : Here’s How
The analyst recently shared insights on X, highlighting XRP's struggle amid the broader market's consolidation trend. On August 7, XRP experienced a significant 18.54% intraday surge following the final ruling in the legal battle between Ripple & the SEC.
XRP in Consolidation Mode
This spike pushed XRP above $0.60, but the altcoin encountered strong resistance around the $0.64 mark. As a result, XRP has since corrected & retraced some of its gains. Despite this pullback, traders like MichaelXBT remain optimistic about XRP’s long-term potential.
MichaelXBT previously noted that XRP is trading within a massive 7-year symmetrical triangle, a pattern that began when XRP dropped from its all-time high of $3.31 in January 2018. Several analysts have echoed this observation, confirming the formation of the triangle.
MichaelXBT predicts XRP will break out of its current pattern this month, despite market pessimism, noting that XRP has reached the triangle's apex.
A Realistic $2 Target
However, MichaelXBT has consistently argued that XRP’s breakout won't lead to the extreme rallies some market watchers expect. Responding to predictions of a $150+ price for XRP, he dismissed such forecasts as unrealistic.
On August 10, he noted that those anticipating a 100x pump in XRP would likely be disappointed. Instead, he has set a more conservative target of $2 for XRP, representing a 251% increase from its current price of $0.5687—far below the massive 11,745% surge recently predicted by analyst Amonyx.
Despite this modest target, MichaelXBT still expects substantial profits from his XRP holdings. He disclosed that reaching the $2 mark could net him $1.5 million in profit. If this figure represents his total investment at a $2 XRP price, it implies he currently holds around $750,000 worth of XRP, equating to approximately 1.318 million XRP tokens at the current price.
Source - thecryptobasic.com
