Famous market analyst AlanSantana recently XRPHe discussed the potential price movements of . Additionally, he suggested a rally of 85% to 120% depending on the correction path.
Speaking to TradingView, the analyst examined two correction scenarios for XRP and underlined the possibility of significant growth. He noted that the current uptrend and wave will be the driving forces behind higher prices.
In Santana’s analysis, he noted that a bearish scenario for XRP is unlikely to go beyond a strong, sudden or surprise correction.
cryptocurrency acknowledged the unpredictability of markets. But he noted that XRP has historically shown flexibility, often deviating from traditional patterns and challenging market norms.
A Drop Before a Price Rally
Notably, XRP’s growth slowed last week even as Bitcoin (BTC) and several other assets recorded massive price gains. Although this trend has raised concerns among community members, market observers remain optimistic.
The big picture that Santana describes involves a combination of a bullish reversal and a bullish wave that will position XRP for higher prices.
Despite the normal potential for a pullback, Santana argued that the current state of the market shows a pattern of lower prices ultimately leading to higher highs.
The analyst pointed out that XRP’s trading volume has decreased since July, when it reached over $10 billion following the decision on July 13.
Koinfinans.com As we reported, Santana also confirmed the emergence of a triangle top pattern that has historically preceded lower prices and eventually turned into upward swings.
XRP Could Rise 85% or 120%
Santana, going forward altcoinHe evaluated the six-month outlook of . It suggested a challenge to the July high of $0.73 to $0.94.
With a strong uptrend, XRP could trade around these prices for a potential upside of 50%, or more precisely, an upside of 85% to 120% depending on the retracement path it follows.
Santana offers two possible retreats. In the first one shown in blue, altcoinis projected to fall to the $0.51 region before registering an 85% increase from the current price.
Alternatively, the second correction path, shown in red, could sink XRP to the $0.43 region followed by a 120% rally from the current price.
Considering the long-term potential, Santana suggests that past calculations point to a possible target of around $5.
With this, cryptocurrency It highlights the complexity of forecasting markets and the potential for unforeseen developments, especially in the context of a supercycle.
Meanwhile, in the short term, XRP increased by 1.73% over the last 24 hours to reach its current price of $0.6221. The asset posted a 42% increase in 24-hour trading volume to $2,001,370,458, indicating an influx of demand.