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A crypto analyst released a new XRP price predictionis predicting a potential breakout that could see the cryptocurrency’s top dollar rise to $4.9. With the formation of the classic bull flag pattern and the 1-Day 50 Moving Average (MA) acting as a bullist catalyst, the analyst is increasingly convinced that XRP to reach new All-Time Highs (ATH) in 2025.
How the 1-Day 50 MA Will Push XRP Price to $4.93
I 50 days of MA is a technical indicator used to track the average closing price of a cryptocurrency over the last 50 trading days. According to Dr. Dovetail, TradingView crypto analyst, 1-day 50 MA, indicated by orange line XRP price chartit has risen to the lower boundary of the bull flag pattern.
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Analyst suggested that the price action of XRP, which was in the consolidation phase after its big pump, created classic bull flag pattern design. This bullish continuation pattern usually occurs after a strong upward move, followed by a price correction leading to a consolidation.
Historically, when a cryptocurrency combines closely with strong moving averages such as the 1 day 50 MA, it indicates readiness exit price. If you look at his technical chart, the 1-day 50 MA plays an important role in Dr.’s analysis. Dovetail and bullish XRP price prediction. The analyst believes that this Moving Average can push the price of XRP to its consolidation nest. the next bullish target.
Based on the convergence of technical patterns and indicators, the rising dotted line on the XRP analyst chart shows a potential price target of $4.93. Dr. Dovetail extended his prediction, highlighting that XRP could reach this impressive high before February 2025.
The XRP price chart also showed a volume bar showing steady activity during the cryptocurrency’s consolidation phase. In addition, the Stochastic Relative Strength Index (RSI) the bottom of the chart suggests that XRP may be oversold, supporting breakout potential.
Although Dr. Dovetail admitting that his prediction was not financial advice, the TradingView analyst expressed confidence that the current technical setup on the XRP chart could push its price to $4.93 this year. This target would represent a 105% upside from XRP’s current market value, underscoring the significant upside from its consolidation phase.
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Update on XRP Price Analysis
According to data from CoinMarketCap, The highest value of XRP is currently trading at $2.41, marking a significant increase of 8.79% over the last week. The depth of its price action and continuity assembly phaseXRP fell sharply after rising from $0.5 to over $2 in November 2024.
In the past few weeks, cryptocurrency has he faced difficulties as it aims to regain its all-time high of $3.84, achieved during the 2021 bull run. Nevertheless, XRP still holds its position as the third largest cryptocurrency with market money.
The featured image was created with Dall.E, a chart from Tradingview.com