Could XRP Price Hit $50? Analyst Shares His Bold Prediction

• An analyst predicts XRP will soon break a major triangle pattern formed since 2018, potentially reaching $10.
• The analyst is confident in XRP’s bullish potential, anticipating a significant upward movement beyond the $50 mark.

Popular analyst Amonyx shared his optimism about the Ripple token, XRP, despite its current precarious situation. XRP is currently trading around $0.5674, up 1.24% over the last 24 hours. However, this price remains far below the critical $0.60 mark, which it has crossed three times in the last 30 days.

Anticipates a Breakthrough in XRP Price Momentum 

In a tweet, Amonyx showed confidence in XRP’s future bullish momentum. He believes the coin is about to break through a huge triangle pattern that has formed since 2018.

#XRP will quickly go above $10+ and then above $50+, there is nothing you can do about it. #XRPHolders #XRPCommunity pic.twitter.com/B8pFABeZLK

— Amonyx (@amonbuy) August 28, 2024

According to Amonyx’s analysis, once XRP breaks through this pattern, it could quickly exceed $10 and continue its upward trend, potentially surpassing $50. This prediction demonstrates a strong conviction in XRP’s future success, despite its current volatility and the difficulties it confronts in regaining higher price levels.

Adding to the optimism, another well-known analyst, EGRAG CRYPTO, has expressed his support for XRP. According to EGRAG, as we previously reported, XRP might hit $27 if it maintains half of its 2017 growth rate.

This bull prediction is based on the Fibonacci Channel, a technical analysis tool that EGRAG has used to track XRP price fluctuations. The prospect of such large growth has piqued the interest of many in the crypto community, particularly those who have been closely tracking XRP price movements.

CNF, on the other hand, has highlighted Ripple’s developing banking connections, indicating a stronger integration into the global financial system. The XRP Ledger’s (XRPL) increased activity and liquidity solidify its position as a viable platform for future development.

This integration is viewed as a crucial aspect that could increase XRP’s long-term value, as Ripple strengthens its position in facilitating cross-border payments and other financial services.