A prominent market analyst has warned that failing to include XRP in a portfolio during the ongoing bull run may be one of investors’ most significant missed opportunities. Crypto Vilian, a well-known chartist and Cambridge graduate, recently analyzed XRP’s historical price action. In a detailed post on X, he highlighted the asset’s current price movements and compared them to its performance during the late 2017 bull run. XRP’s Market Behavior Mirrors 2017 Patterns Crypto Vilian’s analysis identified similarities between XRP’s current trajectory and its historical pattern that led to its all-time high in early 2018. The market structure outlined in his chart illustrates a sequence of phases: a prolonged bearish decline, a gradual recovery, and a consolidation period. These phases were followed by a significant breakout that propelled XRP to its peak price. According to his findings, XRP appears to follow a similar structure over the past seven years. After breaking out of a long-term bearish trend, the asset has recently entered a recovery and consolidation phase. This pattern and the notable breakout in recent months suggest that XRP could be preparing for another upward surge. Crypto Vilian posited that this breakout, if realized, could push XRP to new all-time highs, potentially replicating the explosive gains seen in the 2017/2018 cycle. Based on his projections, XRP might even surpass a $1 trillion market capitalization during this bull run, equating to a price of over $17. One of the Biggest Mistakes The possibility of a trillion-dollar valuation has sparked widespread attention within the crypto community. Xoom, another respected market commentator, underscored the importance of holding XRP during this cycle. He warned that ignoring the asset now could represent a significant misstep for investors aiming to capitalize on the bull market’s potential. Currently, XRP is trading at $2.24, having declined by approximately 10.51% over the past week due to broader market trends dominated by Bitcoin’s recent downturn. Despite this, the asset remains one of the top-performing cryptocurrencies of the cycle, having reached a seven-year high of $2.90 three weeks ago. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Key Levels and Caution for Investors Although Crypto Vilian’s analysis presents an optimistic outlook, he stressed that XRP’s performance is closely tied to Bitcoin’s trajectory. A bullish Bitcoin market could propel altcoins, including XRP, to new highs, while a bearish trend might dampen their growth. The analyst identified potential price levels for XRP between $8 and $13, which he considers pivotal targets. The asset could see further gains if these levels are exceeded, reaching the technical target associated with a contracting triangle Elliott wave pattern. Such a move would imply nearly 100x growth from XRP’s lows of $0.30. However, Crypto Vilian cautioned investors against aiming to sell at the exact market top. Instead, he recommended taking profits at key levels during the upward trajectory. “After all, no one went broke taking profits early,” he remarked. As XRP continues to trade within a consolidation phase, market analysts are keeping a close eye on its potential for explosive growth. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Analyst Says It’s Biggest Mistake to Ignore XRP This Bull Run appeared first on Times Tabloid .
