The ongoing rally in the cryptocurrency market, especially the one witnessed by XRP when it rallied 12% a few days back, has given some ardent observers of the digital currency the opportunity to have a new look at its chart despite the present unfavorable price of the coin.
At the time the entire crypto market was in a boom in 2017, XRP saw great price upsurge, leading the market rally in terms of percentage increase at that time. However, the digital currency has failed to go near its all-time high since it went above $3 then.
This time around, some analysts are looking at the potential of XRP price surging by 140% or 100,000% if this rally is sustained and it goes further and further.
Is 140% XRP Price Rally A Possibility?
At some point on Monday, XRP saw over 12% price increase, making it stay around $0.22.
The growth made Big Cheds, one of the most respected analysts in the digital currency space, to conclude that the price surge was due to a Bollinger Bands pinch.
— Big Cheds (@BigCheds) January 6, 2020
Another trader and crypto expert, by the name DonAlt, suggested that XRP could touch $0.50, around 140% price increase had the rally gone beyond the earlier 12%.
His explanation was based on what the XRP Price Chart presented at that time. The analyst has been observing this possible growth for long, making him buy some XRP tokens.
“$XRP Finally hit my long term target, I bought (& posted about it) a few days ago but want to start a solo thread for it. Long term support with XRP haters gloating at all-time high is good enough place for me to gamble on a swing long position,” he said.
Finally hit my long term target, I bought (& posted about it) a few days ago but want to start a solo thread for it.
Long term support with XRP haters gloating at all-time high is good enough place for me to gamble on a swing long position. pic.twitter.com/5hCqQfKSZ7
— DonAlt (@CryptoDonAlt) January 6, 2020
XRP at $224, how Possible?
Another crypto commentator and chartist, by the name Bitlord, brought a graph indicating that XRP could touch 224, denoting the digital currency could see a rise of 100,000%.
As the tweet could be considered a joke, the chart presented by the cryptocurrency analyst shows that the price of the digital currency will touch the indicated price. This was seen by some as a mere sensation.
Say what you want about $XRP
-Just don’t say you didn’t know
— BITLORD (@Crypto_Bitlord) January 7, 2020