- XRP’s potential surge targets $200 after breaking 2017 resistance.
- CryptoBull predicts 5,000% rise for XRP once price discovery begins.
- XRP awaits breakout, analysts foresee explosive growth past historical highs.
According to CryptoBull, XRP enthusiasts eagerly anticipate the next major bull run, with the prominent crypto analyst (@CryptoBull2020) offering insights into when it will begin. Â The expert, who has closely followed XRP’s price movements, believes that the real rally for XRP has not yet begun. Instead, it will kick off once the cryptocurrency breaks its 2017 price high.
The analyst claims that a significant price surge is on the horizon, with a target of up to $200 for XRP. Â This forecast is informed by technical analysis, which indicates how the cryptocurrency can surge an unprecedented 5,000% after it overcomes the resistance points that it had reached in 2017.
XRP has been experiencing a big challenge in surpassing its past all-time highs; however, in the analyst’s view, having overcome this obstacle, XRP may embark on a new stage of price discovery.
This price discovery stage is the period when an asset rises above historical highs and into unexplored space. There are no prior price levels to serve as resistance, and the value of the asset is dictated solely by market demand. As in the case of XRP, a breakout beyond the 2017 highs could trigger such a phase, causing a major price movement.
Also Read: XRP Inverse Head and Shoulder Pattern 100% in Progress – See Next Targets
The Key to XRP’s Bull Run: Breaking the 2017 High
The analyst highlights that breaking the 2017 high is the critical factor in triggering XRP’s bull run. After this vital level of resistance is breached, XRP might enjoy a massive increase due to renewed investor interest. According to the analyst’s analysis, XRP has the potential to reach up to $200 if demand soars upon the rupture of the resistance levels.
Should the XRP overcome the resistance that it faced in 2017, it may enter into a phase of fast price appreciation, which will precondition the long-promised bull run.
XRP enthusiasts are still hoping that the breakout will come sooner rather than later, with the $200 target in sight. However, given the volatility of the cryptocurrency market, this ambitious target remains speculative, and caution is advised as the market prepares for what could be a significant price shift.
Also Read: XRP Could Be in For a Major Move By November – Here’s What’s Coming
