XRP Could Surge to $250 by 2025, Predicts Crypto Analyst Block Bull
XRP is once again in the spotlight as Block Bull, a prominent crypto analyst and Youtuber, foresees a remarkable increase in its price by 2025. Block Bull’s latest research indicates that XRP has the potential to reach as high as $250 in the current market cycle.
In his analysis, the analyst charts XRP’s trajectory from the 2017 cycle to its peak in 2021. He highlights several crucial factors, including Bitcoin halving events, breakout points, and long-term trend lines, all of which point towards a bullish outlook for XRP.
The green trendline, which symbolizes a consistent upward trajectory since early 2017, is projected to continue beyond 2023. Block Bull explains that each market cycle, lasting approximately 77 weeks from breakout to peak based on historical patterns, indicates a significant surge in XRP’s price, with the next major peak expected around 2025.
Notably, after both the 2016 and 2020 Bitcoin halvings, XRP experienced market peaks that roughly aligned with these timeframes, highlighting a predictable cyclical behavior.
Based on this established pattern, the analyst predicts that the upcoming cycle will follow a similar timeline. With the most recent Bitcoin halving taking place in April 2024, Block Bull expects XRP to reach its next significant peak around October 2025, following the roughly 77-week post-halving timeline.
As of the latest trading data, XRP is currently priced at $0.5159 with a market cap of $28.55 billion. Despite a slight downward trend in the past week, analysts and historical data patterns suggest long-term potential for significant gains.
Technical indicators, such as the Exponential Moving Average (EMA) and Relative Strength Index (RSI), also suggest a consolidation phase before any major price movements.
As of April 2024, XRP’s realized market capitalization stands at approximately $55.2 billion, according to Messari data. This figure indicates a relatively stable valuation over the past few months, with the metric peaking at $56 billion. Despite market volatility, the realized market cap appears to have found a stable ground, reflecting steady investor valuation.
On the other hand, XRP’s market dominance tells a different story. Over the past year, XRP’s dominance in the crypto market has significantly declined, dropping from around 2.5% to just 1.2%. This decline signifies XRP’s shrinking share relative to other cryptocurrencies.
In recent months, there has been notable activity among XRP whales and various market predictions. In March, a substantial transaction involving 250 million XRP was recorded between addresses associated with the cryptocurrency exchange Uphold.
Additionally, analyst Egrag has highlighted two potential future scenarios for XRP. Depending on market direction, Egrag suggests that XRP could either rise to $3.3 or soar to an astonishing $250, aligning with similar bullish sentiments expressed by Block Bull.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. The views expressed in this article are solely the author’s opinions and do not reflect those of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not liable for any financial losses incurred.