The crypto community has been eyeing the Ripple token even before the XRP price hit a 7-year high in December 2024. Although the Ripple token presented a splendid performance with high bullishness, the price is under consolidation, eventually limiting its performance. This is why analysts believe that the XRP needs to move higher to maintain its bullishness, setting the target at $8.7 with a market cap of $500B. Interestingly, analysts also figured out how this could happen, but if it did not, this ongoing Ripple price rally could go all in vain. Bullish Signals Hint XRP Price Likely to Rally Soon In the last two months, the XRP price has surged nearly 370%, thanks to Trump’s win and its influence on the crypto market. XRP is currently trading at $2.42 with a $139B in market capitalization. Interestingly, XRP is the third biggest cryptocurrency in the market after its recent bullish performance and Europe’s implementation of the Tether ban . This has happened despite the Ripple token’s consolidation and current setbacks, but analysts believe more will likely come. Ali, a crypto analyst, has revealed the formation of the supertrend indicator on the 12-hour chart, flashing a buy signal again for the first time since early November. The last time this happened, the XRP price shot up 470%, creating the possibility of the same happening. However, amid uncertainties and ongoing consolidation, whether or not the Ripple price could rally to the same level again has become a question, especially with a mixed bulls signal. Ripple (XRP) Open Interest Skyrockets Again Despite Ali’s positive XRP price prediction, the technical indicators reveal the presence of both bulls and bears for the Ripple token. However, that is not the complete picture, as the futures data clearly indicates that the Open Interest is rising. This signifies that the investor’s interest has returned to the Ripple token, creating the possibility of a breakout. Some analysts have presented this as the opportunity for the formation of a further bullish uptrend, eventually resulting in the XRP price rally. The increased open interest can positively impact XRP’s performance, but timing is the biggest constraint. The continuity of the consolidation could affect the market’s sentiments and the possibility of a breakout. Trader Suggests XRP Bull Flag Breakout Needs To Happen Soon Amid all the eyes on the XRP, crypto analyst Peter Brandt has presented a very optimistic XRP price prediction. However, that XRP bull flag breakout must happen soon, or it could result in the Ripple token’s price crash. According to Brandt’s XRP prediction , there is a formation of the Half mast flag, indicating a potential breakout. However, this formation should be completed within six weeks to present a bullish outcome, or else it can result in a crash. A bull flag pattern is a widely accepted technical indicator of a bullish rally. It indicates the formation of the flagpole on the price chart, which means a sharp price increase followed by a momentary consolidation phase, displaying the flag, which is also visible in Bandt’s graph. Brandt’s graph presents a shaded arc representing many potential outcomes. If things went according to expectations, the XRP market capitalization could hit $500B on the higher end, which means the Ripple price would become $8.7. However, the arc also represents the market cap being $28B on the lower end, which would happen if the token crashed. What You Should Focus On? With an impressive 370% rally over the last two months, XRP is nearly at its prime, currently trading at $2.42. Nevertheless, XRP has entered a consolidation phase, restricting its performance, but that could change entirely pretty soon. Crypto analysts foresee a massive rally for the Ripple token with the formation of the Supertrend. Interestingly, the same supertrend will result in a 470% rally in November 2024. Peter Brandt predicts that if the bullishness continues, the XRP price could hit $8.7 and a market capitalization of $500B. This could become more prominent with the Bitcoin price surpassing the $100k mark again. Overall, a lot is coming for the Ripple token, where its technical chart indicates a massive rally, but there are constraints and limiting factors as well, which could change Ripple’s whole price trajectory. The post XRP Price Prediction: Expert Reveals How Ripple Can Hit $500B Market Cap appeared first on CoinGape .
