Analyst CryptoBull (@CryptBull2020) shared his outlook on XRP's future movements, emphasizing a potential rise to $7-8 in the coming weeks.
New Target Levels for XRP
The analyst stated that "XRP will take us to $7-8 in the next few weeks," highlighting current market structure that indicates a strong potential continuation if momentum returns. A one-day chart from Bitstamp displays XRP's price around $3.01 with a slight daily decline, indicating maturing consolidation.
How Can XRP Achieve These Targets?
The $7 to $8 zone is more than double XRP's current price of $3.02, fitting a measured-move logic. The depth of the rounded base and the height of the preceding rally could translate into a target approximately double or more from the triangle’s apex. Holding above the rising 200-day average further supports this view.
Risks and Probabilities
The triangle's lower boundary and the 200-day average serve as nearby risk markers. A daily close below that trendline would weaken the continuation case, while a clean break above the triangle's upper boundary, especially on rising turnover, would confirm the prediction and set previous highs as initial targets before attempting to reach the $7 to $8 zone.
CryptoBull's forecast, based on visible patterns and bullish sentiment, anticipates breakout signals and volume confirmations as XRP compresses near $3.
