Experienced bitcoin trader Bitlord recently made a bold statement suggesting that XRP is poised for a significant price increase. He asserts that the coin is “ready” for a parabolic move that could yield substantial profits for investors.
Despite trailing other major cryptocurrencies in recent gains, XRP could be on the verge of a significant price rise. CoinCheckup has further bolstered optimism around the token with a bullish price forecast for XRP predicting a 113% increase over the next year.
XRP rose just 3% last week; in comparison, major cryptocurrencies like Ethereum and Solana surged by over 10%. In the last 24 hours, XRP experienced a 1% decline, while its competitors saw a 2% increase. Nevertheless, Bitlord believes the altcoin is poised for a breakout within the next 24 hours. While his rationale is not entirely transparent, his track record of accurate predictions has many traders closely monitoring the token.
I think $XRP is primed
-Expecting a vertical parabolic explosion within 24 hours.
Don’t miss out, millions can be made by timing this move 
— Crypto Bitlord (@crypto_bitlord7) September 22, 2024
Trading Momentum And Patterns
Not only is Bitlord eyeing XRP for a potential breakout, but another trader, The Moon, has also observed a symmetrical triangle pattern forming on XRP’s weekly chart.
This technical formation often signifies a consolidation phase before a major price shift, displaying converging support and resistance lines. The trader’s analysis suggests that XRP could potentially surge by an astonishing 221% if it breaks above the upper resistance line, potentially propelling the price above $1.34.
#XRP could explode in this bull cycle! If it breaks out of this significant triangle, it might go parabolic! pic.twitter.com/wG2SeexCca
— The Moon (@TheMoonCarl) September 21, 2024
Additionally, XRP’s price activity over the past week shows positive signals. The coin reached a notable monthly high of $0.61 before pulling back to $0.5796. Given the persistent interest from traders, this spike could indicate potential for more substantial upward movements.
XRP: Short-Term Gains Or Long-Term Strategy?
While some traders remain hopeful despite XRP’s sluggish performance in recent months raising doubts about its ability to keep pace with competitors, Bitlord’s prediction of a parabolic move carries some weight.
Having advised investors to buy XRP when it was priced at $0.43, which subsequently climbed to $0.6366 with a 48% increase within a week, those who followed his guidance saw significant returns, raising hopes for similar results once more.
Technical data from CoinCheckup further reinforces this optimism. According to their projections, XRP is expected to climb 19% in the upcoming month and 16% over the next three months, with a predicted overall growth of 138% in the next six months possibly signaling a robust bull run.
A Potential Parabolic Move?
It remains uncertain whether XRP will indeed experience the parabolic surge that Bitlord anticipates. Nonetheless, the token seems to be gearing up for a significant event amidst a blend of technical indicators and favorable sentiment. For traders seeking a high-reward opportunity, XRP may be attractive, but precise timing will be crucial given the inherent volatility of the crypto market.
Featured image from Bit Perfect Solutions, chart from TradingView
