Veteran bitcoin trader Bitlord recently made a strong call indicating that XRP is about to experience a major price increase. He says the coin is “ripe” for a symbolic move that could make investors more profitable.
XRP may see a significant price increase, even if it lags behind other leading cryptocurrencies in recent increases. With XRP’s bullish price prediction of a 113% increase in the next year, CoinCheckup is driving the growing optimism in the token.
XRP rose 3% last week; compared to major cryptocurrencies such as Ethereum and Solana jumped more than 10%. XRP is down 1% in the last 24 hours, while its rivals have shown an increase of 2%. Still, Bitlord thinks the altcoin is set to explode in the next 24 hours. His reasoning is not entirely clear, but his history of making accurate predictions is enough for many traders to watch the token closely.
I think $XRP it is ready
– A vertical parabolic eruption is expected within 24 hours.
Do not sleep, millions can be made to count this time
– Crypto Bitlord (@crypto_bitlord7) September 22, 2024
Trading Momentum and Patterns
It’s not just that Bitlord is eyeing XRP for an exit. The Moon, another trader, noted an ascending equilateral triangle pattern on the weekly chart of XRP.
Usually showing a consolidation period before a major change, this technical system shows dynamic support and resistance lines. According to the trader’s research, XRP could explode by a staggering 221% if it breaks above the upper resistance line, which is why it is probably targeting a price above $1.34.
#XRP may explode in this bull cycle! If it comes out of this big triangle, it might be parabolic! pic.twitter.com/wG2SeexCca
— The Moon (@TheMoonCarl) September 21, 2024
Despite this increase, the price movement of XRP over the past week shows encouraging signs. The coin showed a significant high for the month, touching $0.61 before dropping to $0.5796. Given the continued interest of traders in this asset, this increase could suggest a very significant upward movement.
XRP: Short Term Profits or Long Term Play?
While some traders remain optimistic despite XRP’s underperformance in recent months they are questioning its ability to keep pace with competitors. Bitlord’s insistence on parabolic action has some merit.
From $0.43 to $0.6366, he advised investors back in July to buy XRP before it jumped 48% within a week. Those who have taken his advice have done well, and many hope to work again.
Technical data from CoinCheckup only reinforces the optimism. Based on their prediction, XRP will increase by 19% in the next month and 16% in the next three months. Their predicted growth of 138% in the next six months may indicate a great bull run.
A Possible Parabolic Move?
It remains to be seen if XRP will actually see Bitlord’s predicted predictions. But the token seems to be preparing for something big with a combination of technical features and good feeling. XRP may attract traders looking for a high-reward opportunity, but time will be of the essence as always in the volatile crypto market.
Featured image from Bit Perfect Solutions, chart from TradingView