CryptoBull predicts XRP growth of 72,000%

Popular analyst CryptoBull predicts a huge jump in the price of Ripple XRP $2.55 XRP -5.39% Market capitalization $145.98 billion VOL. 24 hours $1.62 billion . This is evidenced by technical indicators and historical data that point to a repeat of the 2017 scenario.

The crypto analyst stated that the XRP token could repeat its phenomenal 72,000% growth within a few months. The analyst drew attention to similar price dynamics and a long period of consolidation, which are still observed today.

As you know, in 2017, XRP rose from a few cents to a record high of $ 3.84 due to the formation of a symmetrical triangle on the chart. This technical pattern usually indicates a possible breakout or trend continuation.

CryptoBull claims that a similar triangle is forming now, indicating a potential spike in the token’s price.

The analyst noted that XRP is at a critical juncture. The monthly chart indicates an approach to the top of the triangle, and a breakout of resistance levels could trigger a significant rise.

If the 2017 scenario repeats itself, the XRP price could reach an incredible $ 994.98, which would take the token to a new record.

At the time of writing, the XRP rate has reached $ 1.42, the market capitalization is $ 81.08 billion, and daily sales have reached $ 9.18 billion.

CryptoBull emphasizes that to confirm a breakout, it is important that the asset closes the month above a certain level.

It is worth adding that the positive news regarding Ripple’s legal conflict with the US Securities and Exchange Commission (SEC) also stimulates investor optimism.

Legal clarity could be an additional impetus for XRP’s growth, although other factors, such as the macroeconomic situation and bitcoin dynamics, will also influence its future path.