Crypto Analyst predicts: This way the XRP price can rise to $ 30

A technical analyst has attracted attention with a striking prediction for XRP, whereby the coin is about to take a big step up. His analysis relies on patterns that were previously also visible at Bitcoin (BTC), and Xrp could help on their way to a striking new price level.

Parallels with earlier Bitcoin rally

The analyst, known as a Rianenenpai, published his vision on 12 April via TradingView. In it he shows how XRP’s price movements have behaved in recent months as Bitcoin did before for a major outbreak. His expectation? That XRP follows a similar path.

XRP has recently broken out above the All Time High Resistance, a zone where the race reversed earlier and again and for months under consolidated. According to the analyst, this movement is very similar to Bitcoin’s outbreak towards the 1,618 Fibonacci extension at $ 61,800, followed by a top around the 1,902 level.

Applied to XRP, this means a first goal in the $ 27 to $ 30 zone, also the 1,618 extension. In line with this, a potentially long-term goal is around $ 71 at the 1,902 level. Interim resistors are seen around $ 2.99 (1,414 Fibonacci) and $ 4.58 (1,618 Fibonacci).

Where many analysts expect Bitcoin and Ethereum to have trouble reaching their previous peaks again, in XRP, Rizesenpai sees a candidate who can withdraw from that pattern. If the scenario takes place, XRP can, according to its estimate, rise to a market cap of around $ 1.73 trillion, similar to Bitcoin at the moment.

In addition to the technical picture, there are also fundamental signals that support the rise expectation. For example, data from Glassnode shows that Whales recently moved around 70 million XRP. A 2x Long Daily XRP ETF has also recently been launched, which may attract extra question from institutional investors.

Among private investors, confidence also seems to be increasing. Less XRP on fairs indicates that many investors prefer to hold their tokens than sell.

The XRP race currently records around $ 2.12, and moves just above its 50 and 200-day average. Although the market is still volatile, the signs for the time being point to a positive trend. In the coming period, it will make clear whether XRP can actually achieve these expectations.