Analyst Says XRP Could Jump 160% to $1.31

Cryptocurrency analyst known as @Coins_Kid is confident that the price of XRP could jump to $1.31 in the coming months. Considering the current price of the cryptoactive, it would be an increase of more than 160%. In reais, this price corresponds to R$6.36.

According to the analyst, for such a jump, the price of XRP needs to remain above the minimum price recorded in August. In other words, something around US$0.47.

As data from CoinGecko shows, at the time of writing this article, XRP is costing US$0.50. In the last 24 hours, the price of XRP has appreciated by 1.0% and in the last week by around 7%. @Coins_Kid’s bullish thesis will be invalidated if XRP loses $0.4227 support

Predictions for XRP

The current price of XRP is above important support for the altcoin. The shift in sentiment toward the cryptocurrency began to shift after a court ruled that the token is not a security when traded on an exchange, contradicting the United States Securities and Exchange Commission’s (SEC) claims in its lawsuit against the company. and its executives.

Since then, the digital asset has begun a recovery process that could last until XRP reaches US$1.31.

Another cryptocurrency analyst, known as @CryptoKaleo, told his 500K+ followers that XRP price has found support after a complete pullback to pre-July dominant levels, while the BTC pair is on the verge of a breakout from the High Tight Flag (HTF).

HTF is a technical analysis pattern used on price charts to identify trading opportunities in financial assets. This pattern is a variation of the “Flag” pattern and is generally considered a bullish continuation pattern.

Kaleo’s thesis is that the SEC will continue to accumulate defeats in its case against XRP and Ripple, its issuer, and that this will culminate in further increases for the crypto asset.

It is worth noting that the historical maximum price reached by XRP was US$3.40, recorded in January 2018. The current price of the token is currently 85% below this value.