Using Fibonacci retracement levels, renowned analyst analyst has drawn attention to the possibility of a massive increase in the XRP price. The analyst recently tweeted, "XRP Color Code To $1.4: "We're putting our sights on the $1.4 if XRP confidently closes above the Fib 0.5 mark at $0.57."
Key price points that are crucial for the future movement of XRP are shown by the extensive study of the chart supplied by analyst. Between $0.3875 to $0.4719 is where the "wicking" range is located. The chart layout would be rendered useless if the price dropped below $0.3875.
According to the researcher, the region between $0.4719 and $0.5119 is where XRP is "ranging," or moving indecisively. The key 50% Fibonacci retracement level coincides with the price of $0.5738, which would be considered "bullish" territory if the cryptocurrency could rise over the $0.5119 resistance level.
Projection of the Future Value of #XRP
analyst bases his comprehensive view of $XRP 's price performance on an examination of accumulation tendencies in the past. The idea is based on the premise that an asset's future breakout will be more powerful the longer it remains in accumulation. Only recently, he pinpointed several accumulation zones for XRP, each of which is expected to result in substantial price increases.
analyst predicts that XRP is about to have a massive rally as it enters its longest accumulation zone in 68 months. Analysts have speculated on where XRP may go in price from its current record high of $3.3. The most bullish estimate sees the price of bitcoin at approximately $90.1, a 27-fold increase from its all-time high.
The second hypothesis places the token's value at around $22 after increasing 6.75 times its current ATH level. The analyst's fourth assumption projects a 14x multiplier from ATH, leading to $46 in value, whereas the third assumes a 2x multiplication from ATH, leading to $6.6.