Crypto analyst Gert van Lagen has forecasted a massive price surge for XRP, suggesting the altcoin could hit $38. While XRP trades under $3, the analyst’s prediction is based on technical indicators signaling bullish momentum.
Van Lagen shared a detailed two-week technical analysis chart highlighting key bullish patterns, including a 7-year Double Bottom and an Ascending Triangle. These patterns suggest a potential cryptocurrency breakout.
The Double Bottom pattern, which formed between 2014 and 2020, indicated a reversal from a downtrend to an uptrend. When XRP broke above the neckline of this pattern, it triggered significant rallies to $0.28 and $2.5 in 2017 and 2018.
Currently, XRP has broken past a critical resistance level marked by a horizontal black line, confirming a bullish breakout. According to van Lagen, this move mirrors previous price action, making the $38 target realistic. He even considers this projection conservative, given that past XRP rallies have exceeded expectations.
Ripple vs. SEC Case Fuels Optimism
The Ripple community is optimistic after Ripple’s five-year legal battle with the SEC officially ended. The lawsuit’s conclusion has sparked renewed confidence in XRP’s potential, with many analysts predicting significant price jumps.
Crypto influencer ‘Random Crypto Pal’ on X (formerly Twitter) has boldly claimed that XRP now has no market cap limits. He forecasts a long-term target of $10,000 for the altcoin, though this remains speculative.
Positive market sentiment, combined with legal clarity, could help XRP reclaim its former glory and surpass its all-time high of $3.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your own research before making any investment decisions.
Note: This article has been refined and enhanced by ChatGPT.
