The price of the native token of the XRP Ledger has recently shot up more than 35% over the past week amid a wider cryptocurrency market rally, with XRP itself outperforming most other digital assets including Bitcoin itself, which moved up around 14.5% over the same period.
As the cryptocurrency’s price rises, a popular cryptocurrency analyst going by Milkybull Crypto suggested to his over 70,000 followers on the microblogging platform X (formerly Twitter), that the XRP price rally was “just getting started,” and added he believes it’s going to be a rally similar to the one seen back in 2017.
At the time, the price of the native token of the XRP Ledger surged more than 66,000% from around $0.005 to over $3.3 before its price started dropping, to now trade at $0.58 per token.
$XRP rally is just getting startedIt's likely going to pull the 2017 cycle kind of rally.Something big is brewing👀 pic.twitter.com/5i2NUu9u1i
— Mikybull 🐂Crypto (@MikybullCrypto) July 16, 2024
Another cryptocurrency analyst, Crypto Michael, revealed on the same platform to their over 40,000 followers that they believe that the price of XRP being through the $0.56 mark the cryptocurrency will have “one of the biggest pumps of the year.”
However, as CryptoGlobe reported, another cryptocurrency analyst recently issued a stark warning for XRP investors, predicting a potential price crash over the next few months to a potential low of $0.07, down from its current $0.4 level.
According to cryptocurrency analyst Ripple Effect, the price of XRP is seeing a breakdown from a multi-year triangle pattern that suggests it’s set for a decisive downward move in the near future.
The prediction comes shortly after another cryptocurrency analyst suggested the cryptocurrency could soon see an explosive upward move after identifying similar price patterns throughout XRP’s history, pointing to symmetrical triangle breakouts.
In a post shared on the microblogging platform X (formerly known as Twitter) with his over 40,000 followers, analyst Javon Marks suggested that “something massive can be truly nearing” after pointing to the “way prices are coiling/shaping up combined with where they’ve come from (historical data) and high volume plus an already confirmed Hidden Bullish Divergence.”
Featured image via Pixabay.
