Research Platform Predicts XRP Will Hit $33$50, Calls It Conservative
- XRP surged 7.97% to $2.26 as Bitcoin topped $93K, reigniting bullish momentum.
- Research platform predicts XRP could reach $33$50, calling this target conservative.
- Historical patterns suggest XRP could mirror a 1,457% surge, potentially hitting $77$100.
Sistine Research, an independent investment analysis platform, has sparked renewed excitement around XRP after issuing a bullish forecast for the cryptocurrency. The platform expects XRP to rise to a price between $33 and $50. While this range might seem ambitious to some, Sistine emphasized that this prediction is conservative.
This projection comes amid its recent push upward, driven largely by Bitcoins current momentum. As Bitcoin surged above $93,000, XRP followed, climbing 7.97% to reach $2.26. The upward shift appears to be more than just reactionary. Sistine points to a breakout from a long-term pattern as the basis for this latest optimism.
The research community shared a chart showing the tokens recent breakout from a symmetrical triangle pattern, which had formed after its pullback from an all-time high of $3.80 back in January 2018. That formation had held XRP in check for years, despite various attempts to break through it.
Consolidation Sets Stage for XRPs Growth
XRPs first attempt to escape that triangle came during the April 2021 rally, when it reached $1.96. That move, however, was blocked at the patterns top line. Another try followed a favorable court ruling in July 2023 in the Ripple versus SEC case. The crytocurrency spiked to $0.95 but was stopped again at the same trendline.
A pivotal moment came after Donald Trump secured the 2024 presidential election in November. Riding the political wave, it broke above the long-standing triangle and soared to $3.39 by January 2025. After that, the asset entered a period of consolidation from February onward.
According to Sistines chart, XRP has been trading between $2 and $3 during this period. The firm believes this range forms a parallel channel, suggesting a setup for another breakout. The next leg, as predicted, could take the token to a new all-time high between $33 and $50. According to the platform, this is conservative, suggesting theres even more upside in play.
Conservative Forecast Hints at More
The reason behind their optimism lies in a historical comparison. The cryptocurrency went through a similar cycle from 2013 to 2017. After a symmetrical triangle formed, the asset surged in 2017, peaking at $0.39 in May of that year. A short consolidation followed, which then led to a 1,457% spike that took XRP to its all-time high.
Now, Sistine argues that the cryptocurrency is mimicking that pattern again. Only this time, the structure is stronger, the foundation is broader, and the target is significantly higher.
Beyond the conservative $33 to $50 estimate, Sistine also hinted at an even more bullish structure. The chart, as they interpret it, could be shaping into a cup and handle patternanother well-known technical setup often associated with massive price surges. If it follows that path, the projection could rise to a range between $77 and $100.
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Read more: https://www.tronweekly.com/research-platform-predicts-xrp-will-hit-33-50/
Text source: TronWeekly
