A well-known market analyst has forecasted a significant increase in XRP that could propel its price to as high as $9 within a few weeks. Currently, XRP is trading at $1.41, a level it has maintained over the past week despite facing selling pressure. Earlier this month, the coin experienced a dip to $1.11 but has since established support around the $1.40 mark.
The analyst, known as CryptoBull, shared insights on social media platform X, suggesting that March could be a highly favorable month for XRP. He noted that the current three-day chart resembles the breakout pattern seen in 2017, which preceded one of XRP“s most remarkable price surges. The chart comparison indicates a period of consolidation followed by a steep upward movement, reminiscent of past performance.
According to CryptoBull”s analysis, there is a possibility for XRP to reach $4 by March 2. This price point would not only represent a substantial increase from current levels but would also set a new all-time high for the asset, effectively delivering nearly threefold gains for current holders.
Further supporting his bullish outlook, CryptoBull projected that XRP could continue its upward trajectory toward $9 by March 11, marking an impressive rise in market capitalization from $86 billion to an estimated $550 billion. This forecast implies that XRP could potentially offer gains ranging from two to seven times its current value over the next three weeks.
Despite this optimistic forecast, some market commentators express skepticism, suggesting that such projections may be overly ambitious given the current market conditions. However, numerous analysts share CryptoBull”s perspective, emphasizing that XRP remains significantly undervalued compared to its historical peak.
In another analysis, fellow analyst CryptoPatel highlighted that XRP is still about 60% lower than its peak price of $3.66. He believes this pullback could represent a final shakeout before a move toward $10, especially considering the macro reversal confirmed after breaking a four-year descending wedge. This prior rally saw XRP gain over 600%, rising from $0.50 to $3.
While optimism persists among pro-XRP commentators, some analysts caution that the bottom may not yet be in sight, with predictions of potential lows around $0.50. Nonetheless, the targets of $9 to $10 from analysts reflect a broader optimism for XRP should the overall cryptocurrency market improve.
