Top Analyst Identifies XRP Pattern That Could Lead to $154

Crypto market analyst CryptoBull noted that a chart pattern suggests XRP is set for a shocking $154 price surge, citing historical context to spark a revival of bullish sentiment on XRP’s lackluster performance. It is important to note that since the bull run began in the fourth quarter of 2023, XRP has underperformed the overall market.
XRP's underperformance
It is worth noting that since October 2023, XRP has only risen by a mere 4.2%. Meanwhile, Bitcoin (BTC), the leading cryptocurrency, gained 1,54% during this period, while Ethereum (ETH) gained 1,24%. Notably, Solana (SOL) surged an impressive 6,90% during this period.
Crypto Basic reported two months ago that as many as 61% of the top 100 crypto assets outperformed XRP over the past year. Still, the data shows that XRP also lagged behind the entire crypto market in 2017 before outperforming the market with a staggering gain of 48,823%.
Recent analysis from CryptoBull suggests that this trend could repeat itself during the current bull run. The analyst cited historical data from the 2014 to 2018 market cycle, during which XRP surged from $0.002 at the beginning of 2014 to an all-time high of $3.84 in January 2018. This marks a staggering increase of 191,900% in nearly four years.
Ambitious XRP target of $154
Interestingly, during this price action, XRP observed a rising loose wedge on the monthly chart. The pattern consists of two trend lines, an upper and lower line, forming a loose formation. This pattern occurs when an asset records higher highs and higher lows.
While a rising loose wedge typically has a bearish bias, CryptoBull’s chart suggests that XRP could be riding a rising wave. This happened previously during the 2014 to 2018 price run, and market analysts are suggesting a repeat is imminent.
XRP formed this pattern again after crashing to $0.11 in March 2020. The chart predicts a similar price surge as the last one, which would take XRP’s target price to a stunning $154. Such price growth would give XRP a market capitalization of $8.5 trillion, assuming its circulating supply remains relatively stable.
As a result, market participants expressed skepticism, believing that such a target was not particularly realistic. In a similar analysis, market watcher Casi predicted a more feasible target of $8 to $13. Meanwhile, analyst EGRAG predicts that XRP will rise to $5.89. Currently, XRP is trading at $0.5345, having gained 6.93% this month.
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