The latest analysis from the Frankfurt Stock Exchange in Germany indicates that XRP, a digital currency associated with Ripple Lab Inc. has the potential to surge by more than 2,000% this year, reaching $10.
Breaking Off From Stereotypic Range
Community member XRP DROPZ posted this bullish analysis of Oliver Michel, the CEO of Tokentus Investment AG, a well-known XRP supporter, during his conversation with a reporter from Der Aktionär.
📈🧐 #XRP CHART ANALYSIS IN THE FRANKFURT STOCK EXCHANGE IN GERMANY ➡️ THE XRP CHART IS “SIGNIFICANTLY DIFFERENT THAN #SOLANA AND #ETHEREUM” ➡️ “WE HAD THIS WEDGE AT THE TIME 2014-2017 THAT WAS COMPRESSED AND WE HAD A FIRST BREAKOUT UPWARDS 4300% […] AND HAD ANOTHER BREAKOUT… https://t.co/rb8CvlJLJv pic.twitter.com/MPtZVmzJZa
— XRP DROPZ (@DROPZXRP) June 6, 2024
During the interview, the reporter wanted to understand why the charts of Ethereum and Solana showed upward trends, while XRP’s chart displayed decreasing candles. In response, Michel mentioned that XRP experienced a 40-fold rise, a massive 4,300% increase from 2014 to early 2017, with a remarkable surge from $0.006 to $0.2522 by December.
Notably, the digital coin has seen little movement, hovering between $0.50 and $0.52 over the past year. The CEO further highlighted that XRP moved sideways before soaring to all-time high (ATH) of $3.84.
He noted that XRP surged by an incredible 39,700% from its lowest prices before reaching the ATH which fueled optimism in the crypto community.
Market Experts are Bullish On XRP
XRP is still under bearish pressure, but market analysts like Michel are optimistic about its future. The analyst said the next surge doesn’t have to match the 40-fold increase from before. Instead, a 20-fold rise would be satisfactory, targeting the coin to reach $8, $9, or $10 this year.
In a shared sentiment with Michel, top analysts recently pointed out an inevitable bullish golden cross on the digital coin, as they predict that it might soar to a $10,000 price target due to its growing utility.
Lately, XRP has been gaining traction with a big sales record, exchange listings and investor interest. It is likely to meet the hype set by crypto enthusiasts even as it has shown some resilience in its price recently.
At the time of writing, the digital currency is trading at a price of $0.483169, up by 1.07% in the last 24 hours according to CoinMarketCap.
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