Amid recent market volatility, major cryptocurrencies such as XRP have sparked optimism among investors and traders, with bold predictions currently being made about the future performance of altcoins.
Although XRP has not seen a significant surge since its all-time high in 2017, some analysts believe a similar uptrend could be in the works during the current bull cycle.
Will XRP hit a new all-time high?
After analyzing XRP’s price action in detail, Xaif predicts that the crypto asset is gearing up for a possible major breakout, signaling a strong rally could be ahead. Xaif made this prediction based on a bullish symmetrical triangle pattern that formed on the altcoin’s weekly chart.
This pattern forms when an ascending line connecting the lows converges with a descending line connecting the highs, often indicating a consolidation phase before a possible upside or downside breakout. XRP is expected to see a significant upside breakout and has a price target of $150 in the next 6 months.
Some crypto enthusiasts have questioned this bold prediction, arguing that it could have a negative impact on the community. XRP’s potential for global trading as a tool for real-world applications will drive prices to $150 or even higher.
XRP is currently trading in an uptrend between the $0.5650 support and $0.6450 resistance levels. A break below $0.5650 or the trendline could signal a bearish trend, while a break above $0.6450 could confirm a bullish trend.
Altcoins need to break through key resistance level
Regardless of whether it can rise to $150, XRP is expected to have a bullish performance. The altcoin is predicted to break through the key resistance level in the short term. XRP has shown signs of strong gains in the past two days as market optimism grows and the SEC's legal dispute with Ripple has made positive progress.
XRP is trading within a range of $0.57 to $0.65. If it can break through significant resistance levels, XRP is expected to climb to new all-time highs.
