Well-known pseudonymous crypto analyst JD (@jaydee_757) has made a bold statement for XRP in prediction He suggested that the price of the digital asset could rise to $24 in the near future. This prediction of JD attracted great attention in the cryptocurrency world and is followed carefully by investors. Here are the details…
#XRP – We are bouncing off 2year trendline w/Hidden Bullish Divergence!NEWS CONTINUES BELOW
If we confirmed breakout of the 6-year trendline, I expect a 📈move ($24+ possible top)!
Will you be the 5% who takes calculated profits or the 95% who “KNOWS WHAT THEY HOLD” just to get REKT again? 🤦♂️🤦… pic.twitter.com/r4XO0kph6oNEWS CONTINUES BELOW
— JD 🇵🇭 (@jaydee_757) September 28, 2023
The basis of JD’s prediction is based on technical analysis of XRP and examination of long-term trends. A closer look at XRP’s price movements on the weekly chart shows that the cryptocurrency is facing three important multi-year trend lines. These trend lines have been combining for several years to form a symmetrical triangle. This triangle formation can often indicate that the price of an asset is getting squeezed before making a significant move and a breakout is about to occur.
The upper trend line emerged after XRP’s all-time high in January 2018 and formed during the subsequent correction period. This trend line has been resistant to XRP’s attempts to reach new highs for almost six years. The lower trend line emerged when XRP experienced an increase in March 2017, followed by a significant decline. The lower trend line has continuously served as support for XRP for almost seven years.
JD predicts that XRP may gain value, especially if there is a close break above the symmetrical triangle in question. He argues that if this breakout occurs upwards, XRP could rise to $24. He also states that XRP has a “Hidden Bullish Divergence” in his prediction.
Can XRP Reach $24?
From its current price of $0.5176, a rise to $24 would represent a staggering 4536% increase for XRP. As a result, this bold prediction made by JD for XRP has created excitement in the cryptocurrency world. However, investors should always do their own research, consider the risks, and exercise caution when investing in crypto assets. Since the crypto market is open to rapid changes, it is important that any prediction is not the sole factor when making an investment decision.
You can follow the current price movement here.