XRP's Potential Rise to $1.10: Ripple's Predicted Pattern According to Analyst

• Ripple (XRP) Consolidates within Ascending Pattern: A Forecast for Future Gains?
• Technical Analysis of Ripple's Ascending Pattern
• The Ascending Parallel Channel Analysis
• Ripple XRP Future Price Prediction
• Speculation Surrounding the $1.10 Level
• Investor Sentiments and Ripple's Fundamentals
• Changelly's Prediction: Ripple XRP to Hit $1.10

Ripple (XRP) Consolidates within Ascending Pattern: A Forecast for Future Gains?

Recently, Ripple (XRP$0.620 -1.68%) has been seen consolidating within an ascending pattern, despite a prevalent negative investor sentiment. This could potentially set the stage for future gains, as per the observations of several market analysts.

Technical Analysis of Ripple's Ascending Pattern

Ali, a renowned cryptocurrency trader, shared his technical analysis on a social media platform X, emphasising an ascending parallel channel that has been governing Ripple's price action since June 2022. This type of price formation is observed when an asset trades between two parallel and upward-sloping trendlines, indicating a continual buying pressure.

The Ascending Parallel Channel Analysis

From this viewpoint, the dominant pattern behind Ripple's price action since June 2022 seems to be an ascending parallel channel. If the pattern persists, Ripple may move towards the middle or upper boundaries of the channel, which currently stand at $0.80 and $1.10 respectively.

Ripple XRP Future Price Prediction

According to Ali's analysis, should Ripple XRP follow the confines of this channel, the prices could propel onwards to test the mid-line approximating $0.80 or even push towards the upper boundary at the significant $1.10 level.

Speculation Surrounding the $1.10 Level

As exciting as this speculation is, a stark contrast is presented in another of Ali's tweets. This post cites an extremely bearish market sentiment for Ripple based on crowd psychology metrics. The post reveals that the weighted sentiment has reached an unprecedented level of pessimism, a record low since May of the previous year.

Investor Sentiments and Ripple's Fundamentals

Such a low level of investor sentiment could suggest that those with weak conviction have finished selling their holdings, leaving the fundamental positives of Ripple unchanged. These could embody the increasing real-world utilization of the affiliated Ripple payments network and positive advancements in Ripple's ongoing legal battle with the Securities and Exchange Commission, as indicated by legal pundits.

Changelly's Prediction: Ripple XRP to Hit $1.10

Changelly's experts predict that Ripple XRP could touch the $1.10 mark by July 2025. It should be noted, however, that this also relies heavily on overall market conditions and sentiment.

Edited by Jonathan Stoker