XRP is forming an inverted head and shoulders pattern
By According to the analysis conducted by trader Ali Martinez, XRP is forming an inverted head and shoulders pattern. This could be a sign of the end of the downtrend, with the potential for a significant upward movement once the breakout above the neckline occurs. The anticipated price level is $2.70.
Crypto trader JAVON MARKS has gone even further and offered an ambitious long-term forecast based on previous bull market cycles. He believes that in this cycle XRP could reach a price of $111, which is more than 50 times the current price.
Analyst from CW is taking a more cautious approach, acknowledging the formation of a bullish pattern but emphasizing the time it might take before any major movement is observed. XRP is still a far cry from the upper line of the bullish flag pattern, and real growth will only commence when it breaks through this resistance. Patience is required, according to CW.
EGRAG Crypto provides a clearer long-term view of XRP’s price trajectory. He suggests that the Upward Expanding Wedge model could potentially propel the token to significantly higher levels, particularly if certain conditions are met. If XRP can establish itself above the $5-$6 range, EGRAG estimates it could reach up to $17.
