Cryptocurrency analysts remain extremely bullish about the future of XRP price despite poor past performance. However, some analysts are predicting price targets that seem unrealistic to many, while others are setting more conservative targets. This is the case with cryptocurrency analyst Alan Santana, who just released a six-month forecast for XRP price.
XRP price is ready for a bullish wave
Alan Santana visited the TradingView website and shared his latest analysis on the XRP price. This prediction is expected to play out over the next six months as the crypto market heads towards what is expected to be an explosive bull market.
This cryptocurrency analyst believes that altcoin prices could be far ahead of other altcoins in this cycle. “It's probably one of the first moves…one of the first big moves!” said the analyst. Santana also cited reasons for this, one of which is that the waiting period between each bullish wave in XRP price has passed.
His analysis found that altcoins typically have a gap of six to eight months between each bullish wave. However, it has been 308 days since the last uptick, which is well over 10 months. This means the altcoin is ready for another bullish wave. He also added, “The fact that XRPUSDT has gone through a correction and held its value for so long is considered bullish.”
Moreover, altcoins are in a bullish trend and are hitting new lows. This is typically bullish for any asset as it suggests better support for the price as it moves higher. “The rising low means the bulls have the upper hand regarding the long-term trajectory of this chart,” Santana explained.
XRP could rise 280% from 2024 to 2025
The crypto analyst said he is expecting a fairly rapid upward wave in XRP prices and expects this to happen sometime in 2024 or 2025. The main reason behind this is that the accumulation phase of altcoins is finally coming to an end.
This is a sentiment echoed by another cryptocurrency analyst known as U-Copy. According to the analyst, the XRP price has been accumulating for the past seven years, but it will finally come to an end in 2024, and the end of this accumulation phase will lead to an increase.
U-Copy expects the altcoin to hit new all-time highs as this accumulation phase ends, which would be at least a 600% rally from here, but Santana takes a more conservative stance. is taking. Analysts expect the XRP price to exceed $1, but expect it to peak around $1.9 to $2. This means a 280-300% movement from here.
“Once the economy gets going, it's going to be very strong and it's going to be for a very long time…People will be asking, 'Why didn't you buy when prices were low?'” the analyst concluded. Ta.
Featured image from CoinMarketCap, chart from Tradingview.com
