530 percent rally to $ 14?

The most important thing shortly:

• Analysts predict that XRP could increase by 530 % towards $ 14.

• XRP/USD has to recapture the 200-day SMA to continue the upward trend.

The XRP course was between $ 2.05 and $ 2.40 last month, while it consolidated in a bull pennant in the weekly time frame.

Several analysts believe that the current technical setup reflects the course development of 2017, which preceded a massive outbreak to all -time highs.

XRP course: 530 percent increase in double-digit range?

The course of XRP (XRP) consolidated under $ 3.00 since February 1. Nevertheless, analysts believe that it could increase massively from the current level if he recorded an outbreak as in 2017.

Der Kryptoanalyst Mikybull Crypto saidThat the price development of XRP seems to follow a pattern from 2017 in the three-week time frame in which an outbreak from a bull pennant led to an increase of over 1,300 % at all-time highs by $ 3.40.

“I've seen this film before,” said the analyst in a post from June 17 on X and he added:

“Feel like the 2017 rally”.

The course development of the old coin follows a similar pattern on the weekly time frame, as shown below.

A bull pennant is a bullish continuation pattern that forms when the course takes a strong upward movement (the flagpole), then takes a break and consolidates in a small symmetrical triangle (the pennant).

Bullen pimp usually dissolves when the course breaks through the triangle resistance line and increases around the amount of the previous upward trend. This means that the upward destination for XRP is $ 14, which corresponds to an increase of 530 % compared to the current course.

These analyzes blank With previous forecasts that XRP could achieve $ 27 based on chart fractals, Elliott-Waves analyzes and Fibonacci extensions. Others say that the XRP course is $ 1,100 % climb could if an XRP spot ETF in the United States is approved.

Read too: Where can you buy ripple (XRP)? The best providers & instructions 2025

XRP course has to recapture 200-day SMA

A recovery that began on April 10th and at the relative strength index (RSI) of oversized at 29 to a neutral value at 52 also signaled a positive swing.

The XRP bulls focus on breaking the resistance at $ 2.27. This is exactly where the 50-day SMA is located.

The upward trend for the Altcoin depends on the resistance between $ 2.37 (200-day-SMA) and $ 2.65 will be converted to a new support.

A conclusion above this level would signal a further outbreak via the 50-day SMA and the Away to return to $ 3.00 Or pave the seven-year high over $ 3.31.

Like cointelegraph reportedcould initiate a sustainable recovery at 2.65 US dollars, which could increase XRP over $ 3.00.

This article does not represent investment advice or recommendation. Every investment and every trade goes hand in hand with a risk and you should research yourself before making a decision.