XRP repeating the 2017 fractal could propel price to new ATH prices.
Grayscale’s Head of Product says XRP is most sought-after asset after BTC.
The price of XRP could hit new targets at $8, $49, and $400.
The crypto market continues to see capable assets trading at relatively lower prices, leading to various debates between bearish and bullish analysts. Despite the many calls for a bear market to hit, several financial experts believe a bullish surge lies ahead for the industry. Amidst this expectation, one crypto analyst says that XRP repeating the 2017 fractal could propel price to $8, $49, and $400 ATH targets.
XRP Repeating the 2017 Fractal Could Propel Price to New ATHs
Ripple’s native token XRP has been gaining a lot of attention ever since its win against the SEC. So far, XRP is arguably the only crypto asset that is recognized under regulatory law, which makes it a highly potent token that could experience a parabolic price surge at any moment. What’s more, the popularity of this asset is being reflected in the financial industry as well.
https://twitter.com/CryptoXAiMan/status/2024589078713553091
As we can see from the post above, a Grayscale manager reveals just how popular the token is becoming, especially as a mainstream asset to hold, invest in, and trade. In detail, the Head of Product at Grayscale just revealed that XRP is the second most asked-about crypto asset behind Bitcoin (BTC). This marks a huge spike in institutional interest for the altcoin XRP.
https://twitter.com/HovWaves/status/2024561228409164127
As for expectations over a bullish price surge for XRP, the expert in the post above shares an observation using a price chart. To highlight, the expert begins by reminding readers of his last XRP update, where XRP pulled a deeper move to the low than what was possible at that time. However, now he says that with the HTF closing below that level, XRP is barely hanging on.
Despite that statement, he expects XRP to continue its current corrective structure to a sideways combo correction for the larger degree. He also says that XRP got a perfect tag of the 50 and is now developing in 5 off this low, which, much to its credit, has a decent 5 on the micro unlike a lot of other alts that look 3 waved. He concludes by saying that a push into the $2 area on 5 would bring more confidence.
XRP New ATH Prices Can Hit $8, $49, and $400 Targets
https://twitter.com/CryptoBull2020/status/2024507452637487360
Meanwhile, another crypto analyst shares a different bullish pattern brewing on the XRP price chart. As we can see from the post above, this expert sees XRP mimicking its 2017 fractal surge pattern. He then concluded by stating that if XRP truly repeats this pattern, then the next price new ATH bull targets for Ripple’s XRP will shoot the price of XRP towards $8, $49, and $400.