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Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Crypto Research Firm Predicts 200% XRP Price Rally To $1.5

Scott Matherson
Scott Matherson
1 year ago
3 mins read
XRP price bull

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As the XRP price and its future trajectory continue to be a hot topic for debate, crypto research firm Sistine Research has weighed in on this debate using technical analysis. XRP holders are set to love this one, as their prediction is bullish. 

Where Is XRP Price Headed?

In a post shared on the X (formerly Twitter) platform, Sistine Research stated that, despite the current market outlook, XRP is one of the tokens with a bullish chart in the crypto market as of now. 

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Their bullish sentiment was projected in their post, which contained a weekly chart that suggested an accumulated pattern since May 2022, with the XRP price having the potential to rally to as high as $1.5, an over 200% increase from its current price of $0.49.

XRP price Sistine Research

Source: X

The research firm also used the XRP/Bitcoin chart to further drive home their bullish sentiment. The chart showed XRP’s potential to outperform the flagship cryptocurrency with its projected rally to $1.5. However, it seems that the XRP price could decline to the $0.40 support level before any massive rally.

Sistine Research XRP price

Source: X

Clarification On The Charts

Sensing that there was some form of skepticism from many in the crypto community, Sistine Research released a subsequent post where it further elaborated on its technical analysis. It explained that from the charts, it was evident that there is a long-term accumulation that is trending upwards. 

According to them, during this period, buyers are willing to dive into the market and provide support to the token at higher and higher prices, likely suggesting that a potential retracement or dump by the bears doesn’t faze the bulls. 

Sistine alluded to the fact that the most recent pump on the chart was larger than the previous pump. This supposedly shows that buyers are active as they are still accumulating at higher prices rather than waiting for a decline before going in. While all this is happening, sellers are still holding their tokens as they anticipate higher prices before selling. 

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They compared this XRP chart to the BTC chart in 2018, when buyers got weaker, and sellers had control of the market, selling every pump at lower prices. 

The research firm also suggested that DOGE’s chart is currently experiencing something similar (to the 2018 BTC chart) as they stated that the XRP price chart is “objectively bullish” in comparison to the meme coin, which is “exhibiting major signs of buyer exhaustion.”

As of the time of writing, the XRP price is trading at $0.49, around 0.30% in the last 24 hours, according to data from CoinMarketCap. 

XRP price chart from Tradingview.com (Sistine Research $200 rally to $1.5)

XRP holding at $0.49 | Source: XRPUSD On Tradingview.com
Featured image from CoinMarketCap, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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