In a recent analysis, financial pundits projected an unprecedented 7,918% surge in XRP value. This audacious prediction stemmed from a meticulous examination of historical data and an advanced Z-Score analysis.
Such a surge, if realized, would mark a historic milestone in the cryptocurrency market.
Crypto Analyst Bilbuwoo Predicts XRP Surge
Crypto enthusiasts are buzzing with excitement following crypto analyst Bilbuwoo’s recent bullish XRP forecast. According to the analyst, XRP’s price could hit a high of $39, increasing by 7,918%. Bilbuwoo, who has large social media followers, made the prediction based on his technical analysis of XRP’s price chart.
Both XRP and XLM are passing Feb-Mar mark of 2017. Are you planning to sell if X falls here? If you check how big the rise has been since then…
Fractals exist & the past repeats itself.
Time is everything.
Flip the switch.
Gold & Energy & X standard.
🥇 https://t.co/RDbShWD690 pic.twitter.com/EJy9apnGGx
— (X)=chi (R)esurrected (P)=rho (@Cryptobilbuwoo0) September 28, 2023
He believes the token is poised for a major breakout in the coming weeks and months. Also, Bilbuwoo highlighted that XRP is following a 2017 chart pattern. Therefore, he urged XRP enthusiasts to think about their holdings.
Bilbuwoo’s prediction is based on studying past patterns, especially with the Z-score indicator. Z-scores gauge how far a data point is from the average, measured in standard deviations.
XRP’s Current Trend Echoes 2015: Recalling a Price Surge and Retracement
The analysis shows that XRP’s behavior now is similar to what happened in 2015. After reaching a high in December 2014, Ripple went down and stayed there in 2015, erasing its earlier gains.
In 2015, XRP saw a significant drop, hitting its lowest point on the Z-score chart in September at -2.3. After this drop, Ripple entered an “accumulation” phase until March 2017, when the Z-score bounced back.
After bouncing back, Bilbuwoo referred to it as the “explosion” phase, initiating a significant price surge that propelled XRP to its peak value of $3.3 in January 2018.
XRP Repeating Past Price Movement
Currently, XRP is mirroring a familiar pattern. After reaching a high of $1.9669 in April 2021, XRP gradually declined, correcting its earlier gains.
This correction phase led to the Z-score hitting its lowest point in May 2022. As a result, a new accumulation phase emerged, reminiscent of a previous trend observed in 2015. Until this point, Ripple has consistently followed the accumulation phase pattern.
Recently, there has been a significant development. The Z-score has dipped back down to its lowest point once again. This latest dip in the Z-score indicates that the accumulation phase is drawing to a close.
This setup is called the “explosion” phase, and all eyes are on Ripple to see how this unfolds. Bilbuwoo predicts an ambitious cycle for Ripple. He expects Ripple to rise to $6.1476, then correct to $3.1597.
Afterward, another surge is anticipated, driving XRP to $24.7229, ultimately culminating in a peak at $39.8903. Meanwhile, as of today, September 28, XRP is trading at $0.499, with a more than $773,000,000 volume. So, to reach the $39.8903 target, XRP will need to grow by over 7,900% from its current value.
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