California, USA – XRP gets ready to increase in volatility as it predicts to boost by 30%. It might experience one of the largest rallies in the crypto industry as per a crypto trader.
XRP’s performance shows how ready this crypto is for a bigger move. It has endured a 10-day-long sluggishness period by being the sixth biggest digital asset by market capitalization. The price behaviour led the price’s formation to a symmetrical triangle on its 4-our chart.
As this crypto moves close to the triangle’s apex, it displays how the volatility is probable to bounce back. There will be a price move by 30.74%, leading the price between $1.26 and $1.18. It determines the target by measuring the symmetrical triangle’s height from the y-axis, adding it to the breakout point.
The reversal and stop system was effective for this cryptocurrency. The parabolic SAR moved from bearish to bullish in the 4-hour chart, while the price of XRP dropped by 14.72% and 32.43%.
Similar price action might take place once the parabolic stop and reverse points became bullish. A boost in buying pressure pushes XRP further its upper trend at the $1.26-trading price. It might lead to a 30.74%-breakout until it reaches $1.65.
On the other hand, crypto traders still need to pay attention to the $1.18 support because any sign of a downtrend will affect the price.
A crypto trader shared a prediction that if XRP manages to break at the price of $3.40, this crypto can end up at $30.00. This prediction was as per Credible Crypto. According to the current prices, the target of this altcoin suggests a 2319%-increase from the price it has now.
The crypto analyst stated that XRP would be around $20 to $30 at the end of its bull cycle, around a year or six months.