{"id":625996,"date":"2024-06-23T12:30:39","date_gmt":"2024-06-23T12:30:39","guid":{"rendered":"https:\/\/wncen.com\/?p=625996"},"modified":"2024-06-23T09:58:23","modified_gmt":"2024-06-23T09:58:23","slug":"xrp-6-year-trendline-draws-to-a-close-analyst-predicts-1500-rally-to-7-5","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/xrp-6-year-trendline-draws-to-a-close-analyst-predicts-1500-rally-to-7-5\/","title":{"rendered":"XRP 6-Year Trendline Draws To A Close, Analyst Predicts 1,400% Rally To $7.5"},"content":{"rendered":"

As the major pieces begin to fall into place, XRP <\/span>may now be<\/span><\/a> in a position where things are going well for its future price trajectory. While XRP enthusiasts are still reeling in amazement over <\/span>Ripple’s recent win in court<\/span><\/a>, a crypto analyst has dropped a bullish XRP price prediction that investors can look forward to. According to the analyst known as Jaydee, XRP is getting close to skyrocketing into new price territories.<\/span><\/p>\n

Related Reading: Follow The Whales? Arthur Hayes Buys Pendle, Token Soars 25%<\/a><\/div>\n

Analyst Predicts XRP Rally To $7.5<\/b><\/h2>\n

XRP days of trading less than $1 may be ending very soon, according to a recent price prediction by crypto analyst Jaydee. The analyst made this known while sharing an ultra bullish prediction on social media platform X. According to the XRP\/USD bi-weekly price chart shared by the analyst, a six-year trendline is finally drawing to a close. This trendline closure could signal the start of a massive bull run.<\/span><\/p>\n

Interestingly, Jaydee’s <\/span>technical analysis<\/span><\/a> is based on a non-logarithmic price scale for XRP and a previous occurrence. Despite the price swings in the past six years, XRP has broadly traded within a descending channel since its record peak of $3.40 in 2017. <\/span><\/p>\n

The upper resistance line has capped upside around $1.90, while the lower support line has held above $0.14 during the multi-year bear market. However, recent price action suggests the entire 6-year downtrend is now wedging towards an apex. The contracting range is leaving less and less room for XRP to fluctuate between resistance and support.<\/span><\/p>\n

XRP is now trading at $0.48. Chart: TradingView<\/a><\/figcaption><\/figure>\n

XRP Set For A Breakout<\/strong><\/h2>\n

As pointed out by Jaydee, this only suggests XRP is set for a breakout to the upside. Furthermore, the analyst indicated a price target of $7.5 when XRP finally surges. With XRP currently trading at $0.4873, this price target represents an increase of 1,430%. <\/span><\/p>\n

While that may sound outlandish, the analyst points to a similar price cycle between 2013 and 2017 to justify such an explosive move. Notably, a similar breakout of a five-year descending triangle pattern saw XRP surge over 600x to peak at $3.4.<\/span><\/p>\n

\"\"<\/p>\n

 <\/p>\n

Jaydee also noted “dumb money” traders will eventually be left behind during the surge. \u201cWe will make sure to take PROFITS on Dumb Money! It will be a FUN but VERY SAD cycle for most,\u201d the analyst <\/span>said<\/span><\/a>.<\/span><\/p>\n

Related Reading: Don\u2019t Miss The Floki FOMO: Social Media Sends Meme Coin On 300% Rip<\/a><\/div>\n

Whether XRP can replicate those blistering gains remains to be seen. Despite his outrageous bullishness, Jaydee did reply affirmatively to a comment mentioning that this cycle could be different from the 2017-2021 cycle. Looking at XRP’s chart, some key resistance zones to watch are around $0.54, $0.63, and $0.8.\u00a0<\/span><\/p>\n

Featured image from Adobe Stock, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

As the major pieces begin to fall into place, XRP may now be in a position where things are going well for its future price trajectory. While XRP enthusiasts are still reeling in amazement over Ripple’s recent win in court, a crypto analyst has dropped a bullish XRP price prediction that investors can look forward to. According to the analyst known as Jaydee, XRP is getting close to skyrocketing into new price territories. Related Reading: Follow The Whales? Arthur Hayes Buys Pendle, Token Soars 25% Analyst Predicts XRP Rally To $7.5 XRP days of trading less than $1 may be ending very soon, according to a recent price prediction by crypto analyst Jaydee. The analyst made this known while sharing an ultra bullish prediction on social media platform X. According to the XRP\/USD bi-weekly price chart shared by the analyst, a six-year trendline is finally drawing to a close. This trendline closure could signal the start of a massive bull run. Interestingly, Jaydee’s technical analysis is based on a non-logarithmic price scale for XRP and a previous occurrence. Despite the price swings in the past six years, XRP has broadly traded within a descending channel since its record peak of $3.40 in 2017. The upper resistance line has capped upside around $1.90, while the lower support line has held above $0.14 during the multi-year bear market. However, recent price action suggests the entire 6-year downtrend is now wedging towards an apex. The contracting range is leaving less and less room for XRP to fluctuate between resistance and support. XRP Set For A Breakout As pointed out by Jaydee, this only suggests XRP is set for a breakout to the upside. Furthermore, the analyst indicated a price target of $7.5 when XRP finally surges. With XRP currently trading at $0.4873, this price target represents an increase of 1,430%. While that may sound outlandish, the analyst points to a similar price cycle between 2013 and 2017 to justify such an explosive move. Notably, a similar breakout of a five-year descending triangle pattern saw XRP surge over 600x to peak at $3.4.   Jaydee also noted “dumb money” traders will eventually be left behind during the surge. \u201cWe will make sure to take PROFITS on Dumb Money! It will be a FUN but VERY SAD cycle for most,\u201d the analyst said. Related Reading: Don\u2019t Miss The Floki FOMO: Social Media Sends Meme Coin On 300% Rip Whether XRP can replicate those blistering gains remains to be seen. Despite his outrageous bullishness, Jaydee did reply affirmatively to a comment mentioning that this cycle could be different from the 2017-2021 cycle. Looking at XRP’s chart, some key resistance zones to watch are around $0.54, $0.63, and $0.8.\u00a0 Featured image from Adobe Stock, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":626000,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,6664,3505,3680,4531],"class_list":["post-625996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-crypto","tag-price-analysis","tag-ripple","tag-xrp"],"acf":[],"yoast_head":"\nXRP 6-Year Trendline Draws To A Close, 1,500% Rally Seen<\/title>\n<meta name=\"description\" content=\"As the major pieces begin to fall into place, XRP may now be in a position where things are going well for its future price trajectory. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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