Top Pundit Unveils XRP Treasure Map Projecting a 1,230% Rally to $8.5

Top Pundit Unveils XRP Treasure Map Projecting a 1,230% Rally to $8.5

Time Stamp: August 11, 2023 3:32 AM
Source Node: 2206352

XRP could be primed for a massive 1,230% upsurge to a lofty $8.5 price position if it fulfills the conditions of the “XRP Treasure Map” unveiled by CRYPTOWZRD.

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CRYPTOWZRD, a prominent industry pundit and top analyst, is bullish on XRP, and his “XRP Treasure Map” is a testament to this confidence. The analyst’s roadmap projects a possible XRP rally to the $8.50 territory, citing data from historical trends.

CRYPTOWZRD first unveiled the roadmap in a bullish analysis of XRP’s price movements on June 30. At that time, XRP was changing hands at the $0.47 territory, having been displaced from the $0.5658 high two weeks prior.

Currently, amid the bearish sentiment surrounding XRP due to the recent 31% retracement, the analyst charged the XRP community to continue to be confident, calling attention to the proposed roadmap as an indicator that tells them the trajectory XRP could follow.

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The XRP Treasure Map

The Treasure Map refers to data from the XRP weekly chart. It cites historical trends observed by the market from 2013 to the present day, underscoring the significance of the patterns.

Notably, XRP rallied by 953% from a low of $0.00583 in October 2013 to an impressive price of $0.06144 in December of that year. Following the upsurge, the asset collapsed over the next six months to a discouraging price of $0.00281 in July 2014.

XRP recovered from this drop shortly after the collapse, immediately staging another rally to $0.02803 by December 2014. However, a correction followed the rally. CRYPTOWZRD dubbed this “a healthy bullish correction” as a result of the price movement that came after it.

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The correction followed a series of A, B, and C patterns characterized by ups and downs. This pattern ended at a low of $0.00404 in November 2015 after the low XRP consolidated for over a year before staging the historical 1,568% rally that saw it claim the all-time high of $3.3 in January 2018.

Projected Repetition

Per data from the chart, XRP is looking to replicate the same price movements. Notably, this current cycle’s A, B, and C pattern was observed from July 2021 to June 2022. Also, the consolidation period occurred from June 2022 to June this year. 

If the details of the roadmap ever materialize, XRP could stage another rally to a new ATH in the next few months. The marked trajectory puts a price target around the $8.50 territory. At XRP’s current value, a rally to $8.50 would require a 1,230% increase.

Meanwhile, despite the SEC’s intentions to appeal the victory in the Ripple lawsuit XRP has sustained its hold above the $0.60 territory. The asset is currently trading for $0.6390 as of press time, appreciating by 0.36% today.

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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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