Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The price of the popular cryptocurrency XRP has risen over 467% in just over a month and is currently trading at $2.70. For many, even the most bullish XRP enthusiasts, such a wild performance came as a surprise, but U.Today had been predicting such an outcome for the cryptocurrency long before this surge happened.
You may remember U.Today stories about the historic price breakout that XRP was about to trigger back in early August. Well, fast forward to December, and "we're here," as the old cryptocurrency meme goes.
Gamza KhanzadaevNow, the question on everyone's mind is where the token is actually headed and where it will stop.
For that, we will return to our projections back when this breakout was just a projection, and we learn that the ultimate target for XRP is somewhere around the $4.20 mark. While memetic in nature, there is an actual calculation behind this number because, given the fact that the price of XRP broke out of roughly six years of accumulation within a bull triangle pattern, its price was projected to surge about 630%, analogous to what happened in 2013 and 2017 — albeit on a smaller scale. With two-thirds of that move already completed, and XRP's all-time high at around $3.30, it does not seem like a dream anymore.
Neither is it set in stone. As with everything that happens on the crypto market, all predictions and even mathematical calculations can turn ugly with just the slightest "stick in the wheel."
On the one hand, XRP's breakout actually happened as the price chart indicated. On the other hand, "little people" believed it would happen and held their tokens on the sidelines during this eight-year-long period of trading.
Godfrey Benjamin
Yuri Molchan
Dan Burgin
Alex Dovbnya
Vladislav Sopov