Popular altcoin XRP is gaining traction in the crypto market as the digital asset continues to attract bold predictions from inspired crypto enthusiasts following a recent price recovery due to a general market rebound and strong investor sentiment.
Is XRP Gearing Up For Another Historical Bull Run?
In a bold forecast, Edrag Crypto, a market expert and trader, has outlined a detailed path for a potential 10x price surge in the value of XRP, triggering quite a frenzy in the crypto community over its capability. The expert’s prognosis is based on a Macro Drop Zone analogy on a gravitational view, which includes 3 distinct areas such as area A, area B, and area B*.
This prediction is in line with a broader outlook for the altcoin possibly reaching a new all-time high in the ongoing cycle in the event that the legal battle between the United States Securities and Exchange Commission (SEC) and financial behemoth, Ripple, over the digital asset comes to a complete end.
According to the expert, a macro consolidation was located in the first area, where XRP was relaxing. However, it was drawn to the boundary of the drop zone in the area, and the altcoin plummeted into the second area (Area B) from $0.15 to $2.
As a result, Edrag Crypto has urged investors to buckle up as the token must approach drop zone B. When this happens, XRP could be poised for a massive launch from the $2 level to the $15 price mark.
Furthermore, the analyst highlighted that following this, area B* will experience the next macro consolidation, which is similar to that of area B, but a bit different from each other. Specifically, this move will cause the token to move from $15 to about $115.
Even though this move may seem extreme, Edrag Crypto claims it is less volatile than the previous move from $0.15 to $2. He underlined that the sharp increase from $0.15 to $2 boasts an astounding 1233.33% volatility, whereas the move from $15 to $115 presents an over 666.67% volatility, “making it a more stable zone.”
Potential Extended Positive Outlook For The Asset
XRP is presently showcasing promising price performance, breaking through critical resistance levels. This uptick could be attributed to several factors, such as favorable market conditions and the expanding acceptance of Ripple‘s blockchain technology in the financial landscape.
At the time of writing, XRP was trading at $0.55, demonstrating an over 3% increase in the past day. Meanwhile, in the wider outlook, the altcoin has risen by about 3.26% in the past week and decreased by nearly 5% in the past month.
The renewed price strength seems to have attracted a wide range of investors and traders as the asset’s trading volume has experienced a significant upswing of over 106% in the past day, indicating strong sentiment about the altcoin’s potential for more gains in the upcoming days.
Featured image from Adobe Stock, chart from Tradingview.com
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