XRP Flips Green For First Time Since 2017, Pundit Predicts 500% Rally

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Crypto pundit Mikybull Cryptohas revealed that XRP has flipped green for the first time since 2017. Based on this, he predicted that the altcoin could record a rally of up to 500%, reaching $15 in the process.  XRP Eyes Rally To $15 As Price Flips Green

In an X post, Mikybull Crypto predicted that XRP could rally to between $5 and $15. This came as the analyst noted that the altcoin has flipped green on the quarterly chart for the first time since 2017. He suggested that the rally of up to 500% may already be underway, noting that XRP has already broken abovethe resistance, just as it did in 2017.  Source: Chart from Milkybull Crypto on X

In a follow-up X post, Mikybull Crypto doubled down on his bullish sentiment towards XRP, stating that the altcoin’s big move is incoming as it is heading for a mega breakout. His accompanying chart indicated that the key was for XRP to successfully flip the $2.90 level again into support and decisively break above the psychological $3 level. 

Related Reading: XRP Price Is About To Close A 3M Candle Above This Major Region, Here’s What It Means For Price

Meanwhile, crypto analyst Egrag Crypto has madea more bullish forecast for XRP, predicting that it could rally to as high as $33. Like Mikybull Crypto, the analyst also alluded to the 2017 bull cycle as the reason why XRP could witness a parabolic surge to this ambitious price target. However, although he is bullish on XRP in the long term, Egrag Crypto statedthat he believes there might be one more flush out before the altcoin rallies to new highs. 

The crypto analyst further remarked that there is about a 70% chance for a flush before the XRP uptrend continues, which he noted is healthier from a structural point of view. He added that there is a 30% chance of an immediate pump but warned that it will eventually lead to a sharp correction. Egrag Crypto expects XRP to drop to at least $2.65, with the possibility of a further decline to the fair value gapbetween $2.35 and $2.40.  Bearish Divergences Hint At Further Drop Before The Breakout

Crypto analyst CasiTrades statedthat XRP’s bearish divergences hint at lower support levels before a potential breakout to the upside. She noted that the downside tests remain valid, with $2.79 and $2.58 as the key support levels to watch out for as the altcoin remains below $3. The analyst added that a test of $2.58 could still support a much larger bullish move to new highs.  Related Reading XRP Flips Green For First Time Since 2017, Pundit Predicts 500% Rally 6 hours ago

However, CasiTrades warned that a break below $2.58 would invalidate the bullish market structureand threaten the macro outlook. Meanwhile, she told market participants that when XRP is truly ready to begin wave 3, the macro resistance levels at $2.79, $3, and $3.25 should break cleanly and without hesitation. If XRP continues to hesitate, she believes that further downside testing may be necessary first.

At the time of writing, the XRP price is trading at around $2.8, down in the last 24 hours, according to datafrom CoinMarketCap. XRP trading at $2.9 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com