According to Anderson, XRP’s current structure is tracing out a massive cup and handle that mirrors this exact Amazon stock setup, with the cryptocurrency now using past highs as support in the same way Amazon did. Just as Amazon transformed once it cleared resistance, Anderson believes XRP could follow a similar breakout trajectory that could eventually push its price above $100, and possibly as high as $200.
Despite his long-term forecast, Anderson is more cautious about what XRP might achieve this cycle. He stated that while a push to $100 in the near term would be “absolutely insane”, a more realistic target for this bull run could lie between $5 and $30. After that, he expects another correction to set in before the rally resumes sometime around the end of the decade.
At the time of writing, XRP is trading at $2.81.
Featured image from Unsplash, chart from TradingView
