Crypto Analyst Presents Bull Case For XRP Price To Hit $130, Here’s When

Scott Matherson

1 year ago

4 mins read

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.

The XRP price has been showing promises of a price spike since Ripple’s victory against the US SEC. Many community members are currently keeping a close eye on the cryptocurrency, and hoping for a significant price increase. One crypto analyst, in particular, has predicted a massive run for the altcoin that could see its price hit triple-digits.

XRP Predicted To Reach $130 In Next Bull Run

Following its partial victory against the United States Securities and Exchange Commission (SEC) in July after Judge Analisa Torres ruled in favor of Ripple labs, XRP, the native token of Ripple, has fluctuated heavily despite the positive sentiment surrounding it. Nevertheless, an analyst sees a potential bull run for the altcoin.

Crypto analyst and XRP influencer, XRP Captain, has predicted a significant price jump for the XRP token on an X (formerly Twitter) post. XRP Captain shared a chart with a symmetrical triangle pattern which he used to predict XRP’s $130 future price movement.

Apparently, XRP has a history of symmetrical triangle patterns. In 2017, the cryptocurrency broke out of a similar symmetrical triangle pattern which pushed the token to new all-time highs. As for when this will happen, the analyst points toward the expected 2024 bull run.

Can You Imagine The Magnitude When This Breakout Happens💥💥?? I Won’t Be Surprised If #XRP Hit 100$ To 130$ In Next Bullrun🚀🚀🚀. #XRP Consolidation 2014 To 2017 VS 2018 To 2024. Full Throttle #XRPHolders #XRPCommunity pic.twitter.com/gm9hLiqh6M

— XRP CAPTAIN (@UniverseTwenty) September 3, 2023

The analyst is not the only one who has predicted a bull run for the altcoins. Earlier in August, a pseudonymous analyst also predicted a massive rally for XRP that could see the token reaching its previous all-time high of $3.

In this case, the analyst highlighted that the XRP/BTC pair had finally reclaimed the 20-day and 50-day moving averages, and the last time this had happened had also been back in 2017. This led to an over 500% increase in the price of the altcoin at the time.

This is the first time we have seen this for $XRP in 5 years! 😱$XRP / $BTC on the monthly timeframe has reclaimed the 20 and 50 SMA. 📈

Not only this, but it has also wicked back to the 50 SMA to test it as support (if we continue to hold out the month). 🎯

The last time we… pic.twitter.com/d5zjzwcTvm

— Cryptoinsightuk (@Cryptoinsightuk) August 13, 2023

Token continues to fluctuate above $0.5 | Source: XRPUSD on Tradingview.com

Crypto Community Uncertain About Analyst XRP Price Prediction

Following XRP Captain’s prediction of XRP’s possible bull run, other crypto analysts have also shared their thoughts on the sheer incredulity of the prediction.

Another crypto trader and chartist, JD was enthusiastic about the technical patterns XRP price charts were displaying. He explained that the symmetrical triangle was accurately represented. However, he could not see the price of XRP reaching three digits.

“I just can’t see that 3 digit target. $20s are still in the cards though,” he stated.

XRP price has also been notably down. However, XRP Whales are not deterred as these large investors are taking advantage of the market downturns and buying up hundreds of millions worth of tokens.

XRP is currently looking toward a reversal with its price seeing meager gains of 0.02% in the last day. However, it is still struggling on the weekly chart with losses of 2.61%.

Featured image from Zipmex, chart from Tradingview.com

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.

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.

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.