Current XRP Cycle May See Prices Reach as High as $250: Analyst

Current XRP Cycle May See Prices Reach as High as $250: Analyst

Time Stamp: May 13, 2024 12:21 AM
Source Node: 2576344

Crypto analyst Block Bull predicts XRP could surge to $250 by 2025 as past cycles and Bitcoin halving trends suggest a bullish outlook.

XRP is again under the spotlight, with Block Bull, a crypto analyst and Youtuber, predicting a dramatic price increase by 2025. Block Bull’s latest findings suggest that XRP could potentially reach as high as $250 in the current cycle.

In his charts, the analyst outlined XRP’s trajectory from the 2017 cycle to the peak in 2021. He highlighted several key elements including Bitcoin halving events, breakout points, and long-term trend lines, which suggest a bullish outlook for XRP.

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The green trendline, indicating a consistent upward trajectory since early 2017, is projected to continue beyond 2023. According to Block Bull, each cycle, lasting approximately 77 weeks from breakout to peak based on past patterns, points to a significant rise in XRP’s price, with the next major peak projected around 2025.

For instance, after the 2016 and 2020 Bitcoin halvings, XRP saw its market peaks roughly align with these timeframes, emphasizing a predictable cyclical behavior.

Given this established pattern, the analyst predicts that the upcoming cycle will follow a similar timeline. With the most recent Bitcoin halving in April 2024, Block Bull expects XRP to achieve its next significant peak around October 2025, following the roughly 77-week post-halving timeline.

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XRP Price Performance 

As of the latest trading data, XRP is priced at $0.5159 with a market cap of $28.55 billion. Despite a slight downtrend in the past week, the long-term perspective fueled by analyst predictions and historical data patterns suggests a potential for significant gains.

Technical indicators such as the Exponential Moving Average (EMA) and Relative Strength Index (RSI), also provide insights into short-term trends and market momentum, which currently suggest a consolidation phase before any major price movements.

As of April 2024, XRP’s realized market capitalization, a metric that reflects the average price at which each coin last moved, adjusted for inflation and lost coins, stands at approximately $55.2 billion, per Messari data. 

This figure shows a relatively stable valuation over the past months, with the metric peaking at $56 billion. After a series of fluctuations, the realized market cap appears to have found a stable ground, suggesting a steady investor valuation despite market volatility.

XRP Realized Marketcap and Marketcap Dominance
XRP Realized Marketcap and Marketcap Dominance | Messari

In contrast, XRP’s market dominance tells a different story. Over the past year, XRP’s dominance in the crypto market has seen a significant decline, dropping from around 2.5% to just 1.2%. This decline marks XRP’s shrinking share relative to other cryptocurrencies.

Whale Activity and Market Predictions

The months succeeding the Bitcoin halving have been bustling months for XRP traders and analysts alike. In March, a significant transaction involving 250 million XRP was recorded between addresses associated with the cryptocurrency exchange Uphold. 

In addition, analyst Egrag recently highlighted two potential future scenarios for XRP. Depending on market direction, Egrag posits that XRP could either rise to $3.3 or soar to a staggering $250, reinforcing similar bullish sentiments echoed by Block Bull.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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