Analyst Predicts XRP to Surge by 487% to $3.80
Date: 2023-11-18 Author: Dima Zakharov Categories: BUSINESS
JD's Optimistic Forecast for XRP
Renowned market analyst JD continues to hold a bullish stance on XRP, sustaining a price prediction of $3.80 amidst a consistent upward trajectory. Despite recent fluctuations triggered by false reports surrounding BlackRock iShares XRP ETF registration, JD remains positive about XRP's potential.
XRP's Resilience Amid Market Fluctuations
Following the ETF registration news, XRP experienced a brief surge to nearly $0.75 before plummeting once confirmed as a fraudulent claim. JD notes that despite this price drop, XRP maintained trading within a specific range, fluctuating between $0.63 and $0.69, prevailing even before the ETF news emerged.
JD's Observations on XRP's Trends
JD highlights that XRP hit a support level and has shown resilience since then. Notably, the coin has consistently marked higher highs and higher lows, confirming its sustained upward trajectory despite recent market corrections.
XRP's Long-Term Trend
JD's analysis includes a long-term perspective, depicted in a chart revealing a symmetrical triangle pattern that has influenced XRP's movement since April 2021, following a drop from $1.96.
Ideal Buying Zone and Growth Forecast
Despite recent fluctuations, JD's long-term forecast remains bullish, indicating a potential surge to $3.80 once critical resistance levels are surpassed. An optimal buying zone, as suggested by JD, ranges between $0.4100 and $0.4770, considering possible further corrections.
Projected Growth and Current Market Status
While XRP's trading volume has decreased by 32% over the last 24 hours to $1,451,469,239, the coin currently trades at $0.6469, indicating a 3% increase in an attempt to recover. Achieving $3.80 would signify a remarkable 487% increase from its current value.
