The post Analyst sets XRP’s next all-time high for upcoming bull market appeared on BitcoinEthereumNews.com.

Amid the recent Ripple legal development, attention has turned to XRP’s price trajectory, particularly its ability to exit the current consolidation phase and mount a breakout. Notably, crypto trading expert Alan Santana has maintained that investors should expect a possible price breakout to a new record high during the next bull market. In a TradingView post on August 10, Santana pointed out that the cryptocurrency has accumulated since June 2022, setting the stage for a significant upward movement in the upcoming bull market. Santana outlined a cyclical pattern in the cryptocurrency market, demonstrating how different years align with specific market phases. According to his analysis, 2024 will be a year of accumulation, paving the way for a bull market in 2025. He emphasized that this cyclical behavior has been observed across various altcoins, not just XRP. XRP price analysis chart. Source: TradingView/ Alan Santana According to his technical analysis, XRP bottomed in June 2022, similar to Ethereum (ETH), signaling strength. Both cryptocurrencies peaked first in 2021 and bottomed first in 2022, compared to Bitcoin (BTC). The period from June 2022 to the present is considered a long consolidation phase for XRP. In his analysis, Santana noted that altcoins that showed strong performance in 2023/24 might not continue at the same pace in 2024/25. Conversely, subdued altcoins during the same period could become strong performers in the upcoming years. This unpredictability, according to Santana, could work in XRP’s favor. XRP’s next record high  In determining the next XRP record high price, Santana deployed Fibonacci retracement levels to support his projections. He identified an easy target for XRP at $1.32, with a more ambitious goal of reaching new all-time highs in 2025/26. According to Santana, the Fibonacci levels point toward $4.6, representing a 700% increase from the current price. However, his calculations…

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Filed under: News - @ August 10, 2024 1:06 pm