That jump would be about a 50% gain from today’s price. He even marks out a window from August 23 to September 7 for a bigger run toward $7 or higher.
While Fibonacci is just one method, its overlap with Rector’s targets creates a story that traders can follow. It gives them clear numbers to watch and simple goals to aim for as the market moves.
Other market observers take a different take. They look back at XRP’s past rallies and figures current cycles could average out to about $20 per coin. In 2017, XRP rose a whopping 2,500%, which would imply a $30 peak today. In 2021 the altcoin jumped 500%, pointing to $7.70 as we speak. By averaging those two, a $20 target for this season could be on their crosshair.
Even with bullish charts, risks are still there. Regulatory news around Ripple and the SEC can send prices tumbling overnight. If Bitcoin cools off or global markets turn sour, altcoins like XRP could get hit hard. Big holders also have power. If they decide to sell into strength, any rally could stall quickly.
Featured image from Unsplash, chart from TradingView
