Block Bull, a crypto analyst and Youtuber, has made a bold prediction for XRP, stating that it could potentially reach $250 by 2025. Block Bull’s findings are based on past cycles and trends related to Bitcoin halving events, and they suggest a bullish outlook for XRP.
The analyst’s charts show XRP’s trajectory from the 2017 cycle to its peak in 2021. Key elements such as Bitcoin halving events, breakout points, and long-term trend lines indicate a consistent upward trajectory for XRP. The green trendline, which has been rising steadily since early 2017, is projected to continue beyond 2023. Each cycle, lasting approximately 77 weeks from breakout to peak, has historically resulted in a significant increase in XRP’s price. Based on this pattern, the next major peak is expected around 2025.
The analyst points out that after the 2016 and 2020 Bitcoin halvings, XRP reached its market peaks around the same timeframes, suggesting a predictable cyclical behavior. With the most recent Bitcoin halving occurring in April 2024, Block Bull anticipates that XRP will achieve its next significant peak around October 2025, following the roughly 77-week post-halving timeline.
Currently, XRP is priced at $0.5159 with a market cap of $28.55 billion. Despite a slight downtrend in the past week, the long-term perspective, supported by analyst predictions and historical data patterns, indicates the potential for significant gains. Technical indicators such as the Exponential Moving Average (EMA) and Relative Strength Index (RSI) provide insights into short-term trends and market momentum, which currently suggest a consolidation phase before any major price movements.
As of April 2024, XRP’s realized market capitalization stands at approximately $55.2 billion. This metric reflects the average price at which each coin last moved, adjusted for inflation and lost coins. The realized market cap has shown relative stability over the past months, indicating a steady investor valuation despite market volatility.
However, XRP’s market dominance has declined significantly over the past year, dropping from around 2.5% to just 1.2%. This decline signifies a shrinking share of the crypto market relative to other cryptocurrencies.
In March, a notable transaction involving 250 million XRP was recorded between addresses associated with the cryptocurrency exchange Uphold, indicating significant activity in the XRP market. Additionally, analyst Egrag has presented two potential scenarios for XRP’s future price. Depending on market direction, XRP could either rise to $3.3 or surge to an astonishing $250, aligning with the bullish sentiments expressed by Block Bull.
It’s important to note that this content is for informational purposes only and should not be considered financial advice. The views expressed in this article are the author’s personal opinions and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions, and The Crypto Basic is not liable for any financial losses incurred.