XRP price was this course Flowed with a prominent bull run. However, according to Cryptobull, the Cryptobull, The Real Bull Run It has not started yet. According to the technical analysis published by this analyst X, when XRP finally begins to operate the bull, the huge swing will reach $ 37.
Analyst says that XRP Bull Run has not yet started
XRP has Wide quota Last week, a transfer between $ 2.78 and $ 3.12 with fluctuation intensified Through the broader encryption market. The distinctive symbol opened the week at $ 2.86 after a sharp sale, wore more than $ 3.07 in an increase in the middle of the week, then recovered again before recovering to about $ 2.92 at the time of this report. These movements have kept XRP closed around the level of $ 3, which are both resistance and short -term support.
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Although the price that hovers about $ 3, which is still 400 % over a year ago, the Crypto Cryptobull analyst has argued that XRP has not yet entered the real run phase. in Posted on X, The analyst shed light on how to repeat the structure of the current chart of the pattern that was seen between 2015 and 2018. During that course, XRP was traded in a long side range before storming its historical gathering, which paid its price to its highest level ever.
Although XRP has already penetrated this price point to record a new peak of $ 3.65 this session, it still closes less than its previous peak. According to the analyst, this means that the outbreak of the new high levels has not been confirmed. The accompanying graph reinforces this opinion, which indicates the unification of the old underh, with an arrow indicating the place where the bull is running.
A road to $ 37 if history repeats itself
The most important ready -made meals here is that XRP begins at the conclusion higher than its highest level ever at $ 3.4, especially in the weekly timeline of the candle. According to Cryptobull, XRP is still placed to a height of up to $ 37 If this happens. This targeted price depends on the previous penetration in 2017, albeit with a decrease in percentage of gains.
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If you realize, this will represent more than 1,130 % increase of today’s price levels. Depending on the current trading offer of XRP, this will be translated to a maximum of more than $ 2.4 trillion. To put this in its correct perspective, the maximum current market for Bitcoin is about $ 2.2 trillion.
Although this goal may be very optimistic, some supporters of XRP suggested that a XRP ETF spot approval Later this year it can be the catalyst for such a step. Others have indicated a greater target of more than $ 100 on an emergency over XRP Adoption between banks And other financial institutions.
At the time of writing this report, XRP is trading at $ 2.92, a decrease of 2.7 % over the past 24 hours.
Distinctive image from Istock, Chart from TradingView.com
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