A notable analyst in the crypto sphere has asserted that XRP could attain a 15 times expansion in its price in the short term before the peak of this cycle.
XRP’s cumulative performance over the past seven days has translated to a 3% decline, putting its value at $0.6186. On a 30-day scale, XRP maintains a significant 15% gain. Meanwhile, XRP continues to trade around the price points observed last October when the crypto bull market largely kicked off.
Nonetheless, prominent market analysts have expressed conviction that XRP is primed for an aggressive short-term move. Analyst Capt Toblerone recently commented on XRP’s potential aggressive short-term move.
XRP Set for 15X Soon
In a recent post X, he argued that XRP would net a potential 1,500% gain before the mid-cycle run ends.
$XRP chart update. 15x to go before the mid-cycle run ends. pic.twitter.com/GXoviKH40w
— CAPT. PARA8OLIC TOBLERONE (@CaptToblerone) March 16, 2024
With XRP around $0.6186, a fifteen-fold increase for the asset will put its price at approximately $10. The chart accompanying the update suggests the analyst expects the price target between now and July.
Notably, Capt Toblerone’s latest post updated his January analysis, when he projected XRP to trade between $2.5 and $11 by the second quarter of the year. However, it is barely ten days before the onset of the second quarter, and XRP remains around $0.6. Yet, the analyst remains unwavering in his outlook for an explosive rally for XRP.
Can XRP Rally 1,500% in Short-Term?
Furthermore, Capt Toblerone is not the sole analyst eagerly anticipating a short-term aggressive surge for XRP. Interestingly, these market observers fall into two categories: those envisioning a rise to $5 to $10 in the immediate future and those foreseeing a similar target range at the climax of this cycle’s bull rally.
For instance, analyst Jake Gagain recently expressed his perspective that a $5 price target for XRP is realistic at the peak of this bull season. Similarly, crypto founder Nick has proposed a comparable yet more ambitious target of $10, a viewpoint that resonates with many others in the industry.
On the other hand, analysts Dark Defender and EGRAG have proposed between $5 to $17 for XRP in the coming weeks.
Significantly, the rationale supporting these short-term views of XRP potentially surging by over 1,500% is rooted in its past performance. In late 2017, XRP engineered an extraordinary trajectory, culminating in its all-time high of $3.84 by January.
Essentially, these market analysts are eagerly anticipating a repetition of history.
