Crypto analyst CrediBULL Crypto has predicted that the XRP price can reach $20 in this market cycle. In his analysis, the analyst provided a detailed explanation of how XRP could enjoy such a parabolic rally and reach double digits.
How XRP Price Can Reach $20
In an X post, crypto analyst CrediBULL Crypto revealed how the XRP price could reach $20 based on an analysis of the XRP/BTC chart. His accompanying chart highlighted the $2 range as the area that XRP needs to flip as support to begin its rally to a new all-time high (ATH) and the $20 target.
CrediBULL Crypto stated that if XRP flips that red zone as support, the double digits will probably come quickly. He remarked that an XRP ATH against BTC is not a matter of if but when and that at the current Bitcoin price, a new ATH on XRP/BTC would easily lead to a parabolic rally to $20.
However, the crypto analyst called for patience while XRP attempts to clear this $2 level and begin its parabolic rally. He had earlier noted in his analysis that the red zone on the chart is a major resistance for the XRP price. However, he believes that XRP could still trend higher on the USD chart (between $1.5 and $2) while it attempts to break this $2 resistance on the Bitcoin chart.
Veteran trader Peter Brandt also recently provided a bullish outlook for XRP. Like CrediBULL Crypto’s analysis, the veteran trader said that XRP only needed to clear its 2021 high last $1.60 to begin its parabolic rally.
Price To At Least Touch $12
Crypto analyst Egrag Crypto provided a more conservative prediction as he stated that the XRP price could top around $12. The analyst also made this prediction based on his analysis of the XRP/BTC chart. In an X post, he stated that XRP/BTC has pumped right at the ‘Atlantic and Pacific line,’ which he claimed signals a bullish momentum.
The analyst further remarked that a weekly candle above $1 would flip a key resistance into support. He mentioned that the resistance target to keep an eye on is the range between $3 and $. A close above that this range set the stage for a “super bullish ride” for the XRP price, the analyst said.
In line with this, he asserted that this cycle’s ultimate goal is reaching the top edge around $12, a level that he said could redefine the game. Egrag Crypto recently predicted that this rally to $4 could happen soon seeing that CRP already reached its 2-year high as it broke above $1.
The post Analyst Reveals How XRP Price Can Reach $20 appeared first on CoinGape.