Ripple’s native token, XRP, has been struggling to climb above the $1 mark for quite some time now. At press time, the token was seen exchanging hands around $0.50. It failed to rally despite winning the lawsuit against the SEC after the judge ruled that XRP was not a token. The cryptocurrency rallied to a high of $0.80 after the ruling and quickly shed its gains during the same week in July. XRP has been on the back foot since then and has delivered little to no profits to investors.
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However, a leading cryptocurrency analyst has predicted that Ripple’s native token could breach its all-time high of $3.40 soon. According to the price prediction, XRP could rally and rise 1,100% from its current price.
Analyst Predicts XRP Could Reach $5.8, Rise 1,100%
Pseudonymous cryptocurrency analyst Dark Defender predicted on X [formerly Twitter] that XRP could touch the $5.85 mark. The analyst shared a chart indicating that XRP closed the September candle with a positive Doji. He predicted that the token could retest the $0.66 level in the short term leading to a 30% gain. “I take this positive, as always, and expect a re-test towards $0.66 in a couple of days,” he posted.
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According to the price prediction, XRP could reach $5.85 levels in the next bull run, and the timeframe is positioned at 2026. “Breaking $0.55 gives tremendous momentum since XRP will be above the weekly Ichimoku Clouds, which will be highly Bullish,” the analyst predicted.
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Nonetheless, there is no guarantee that XRP could reach $5.85 in the next three years. The cryptocurrency market is highly volatile and could swing in either direction. Thus, it is advised to do thorough research before taking an entry position in Ripple’s native token.
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At press time, XRP was trading at $0.51, and is down 2.4% in the 24-hours day trade. It is also down close to 85% from its all-time high of $3.40, which it reached in January 2018.
