XRP Price Could Skyrocket by 10-15x This Cycle, Analyst Explains

Despite years of waiting and the impact of a lawsuit that began in 2020, XRP is showing promising signs, particularly with a bull flag pattern that could push it to new all-time highs.

An analyst recently shared their insights on XRP's price trajectory, highlighting key developments that could herald a substantial breakout. Despite years of anticipation and the ongoing impact of a lawsuit that commenced in 2020, XRP's price has shown promising signs, notably a bull flag pattern that might propel it to new all-time highs.

According to analyst Zach Humphries, XRP experienced a significant price surge in 2021, reaching highs of $2, although the lawsuit ultimately hindered the token's full price potential. Now, with a bull flag forming on the charts, XRP could potentially reach $3.84 or even higher. The target of $7.50 is also in play if crucial levels are broken.

Having traded below its all-time high of $3.84 for over 2,400 days, the ongoing lawsuit has certainly played a role in keeping XRP's price down. However, the analyst posits that without the lawsuit, XRP would have likely achieved a new all-time high in 2021.

This bull flag, characterized by a strong uptrend followed by a period of consolidation, serves as a powerful technical indicator of future price movements. The last time XRP formed a similar pattern, it went on to surge by an incredible 60,000%. While a repeat of such a massive increase is unlikely due to XRP’s current market cap, a 10 to 15 times increase is still within the realm of possibility.

The 4.236 Fibonacci extension suggests a potential target of $16 for XRP in this cycle, although the analyst is realistic about these projections. For XRP to reach a price of $16, it would require a 25x increase from current levels, bringing XRP’s market cap to almost $900 billion. However, even a more conservative target of $5 to $7 is seen as feasible, indicating a 10x increase.