XRP Poised For Over 5,000% ‘Explosive Charge’, Analyst Says

Christian Encila

9 months ago

3 mins read

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XRP once more takes the center stage in crypto as momentum for the altcoin’s price builds up. Over the weekend, XRP jumped 8% to a high of $0.63 before it settled slightly lower at $0.6131.

Although it witnessed this minor pullback, analysts are sharing their predictions on the token. Specifically, two popular personas in the crypto analysis world, Bobby A. and GoldE33, predict that XRP is ready for a key breakout.

Bobby A. thinks that XRP is poised for an “explosive charge”, while GoldE33 highlights a key technical indicator that could support this bullish outlook.

The analysts shared their thoughts on X, formerly known as Twitter, thinking the same – that it may push the altcoin up past its current resistance levels. Bobby A.’s charts reveal a very promising breakout pattern on the monthly timeframe, while GoldE33 identifies the shrinking Bollinger Bands as a sign of an imminent price explosion.

An explosive charge ready to go high order. #XRP ⚒️ pic.twitter.com/93zeWYKgSh

— Bobby A (@Bobby_1111888) August 24, 2024

Resistance And Possible Breakout

Bobby A. is quite straightforward with his predictions. He’s set the first target at $0.87 — a 45% increase from its current price of $0.60 for XRP. Were XRP to reach that level, it would be considered major as it heaves the token well above its long-term descending trendline.

This could mean the change in market sentiment from bearish to bullish, providing an uptick in investors that might drive the price even higher.

XRP is currently trading at $0.57. Chart: TradingView

And the road back to higher prices is filled with obstacles. Thus, Bobby A. has identified a number of resistance levels, which the XRP price would have to break through as it edges closer to its previous all-time high of over $3.

A breakout above this level would be monumental indeed, possibly opening the floodgates for XRP in uncharted territory. But the analyst remains hopeful; he says when XRP clears the $3 mark, a smooth sail toward $5.31 could be highly expected.

The Role Of Bollinger Bands

While Bobby A. used resistance and potential price targets in his analysis, GoldE33, on the other hand, makes use of Bollinger Bands, a tool used for the measurement of volatility and price action.

#XRP – Bollinger Bands – When BB get thinner, it means a BIG move is coming! BB got thinner last two cycles that led to a 10x-650x in a year!

I called bottom, I’ll call TOP next! Posting HUGE 5 chart update on Patreon/Discord next week w/targets!

400 Retweets for update on X!… pic.twitter.com/IlkI0BmwqK

— JD 🇵🇭 (@jaydee_757) August 26, 2024

According to GoldE33, contraction on the XRP chart in the Bollinger Bands is usually a sure sign of an approaching increase in price.

To give a bit more credibility to his statement, GoldE33 refers to two other events in the history of the XRP chart when the Bollinger Bands contracted. Both times, strong upward movements happened.

In one instance, XRP’s price jumped 10-fold, while the other saw the price jump an incredible 650 times. And that historical context gives credence to the argument that XRP might be very close to making a big move.

Profit-Taking Zones And Long-Term Prospects

First, Bobby A. has pointed out that $5.31 is his main profit-taking zone for the short-term gain taker. If XRP managed to get to this level, investors who have bought at the current price would register unprecedented returns.

For longer-term positions, the potential rewards might be higher. His most ambitious forecast looks for XRP to reach as high as $33, which is a colossal 5,387% increase from today’s price. If XRP were to reach this level, most definitely it would join those cryptos that have given awesome returns.

Given the recent price action of the XRP and the technical signs that analysts such as Bobby A. and GoldE33 identified, this token is setting up for a big move. Considering the difficulties lying ahead of it, it would be seen whether it can pierce through these or reach these lofty targets set by these analysts. For now, the market watches closely, with optimism building around the potential of XRP for a historic rally.

Featured image from Pexels, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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