Alpha Husky Club Founder Bullish on XRP in the Crypto Market
Founder of Alpha Husky Club, an NFT project on the XRP ledger, King Karan believes that XRP is set to pump the highest eventually.According to Karan, XRP has been one of the best performers over the past 90 days. So, he is quite bullish on XRP's chances in the long term.
King Karan Compares XRP to Cryptocurrencies in The Top 50Karan shared a chart ranking the top 50 cryptocurrencies based on performance. According to Karan, XRP's price value has increased by over 6.8% in the past 90 days.
In the top 50 performance over the last 90 days, $XRP is WAY behind compared to other assets.
This is why I still hold $XRP, because it will pump the hardest at last. pic.twitter.com/nT21UTPsht
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However, he admitted that XRP was behind in price performance compared to other cryptocurrencies. Based on this chart, XRP is number 49 out of the top 50 and only surpasses Monero (XMR) in terms of performance. Notably, FLOKI tops this list, gaining 588.5% on its price over 90 days.
Also, PEPE. Arweave, Fetch.ai, and Near Protocol complete the top five on the list. According to Karan, since XRP is behind the top coins in performance, that is enough reason for him to hold the token based on the belief that it will eventually rally.
Despite King Karan's positive forecasts, he did not give a detailed analysis on how XRP will achieve this optimistic surge.Notwithstanding, crypto analyst Cryptobilbuwoo, provided a more detailed chart analysis supporting the XRP bullish theory
Analyst Cryptobilbuwoo Shares Insights on XRP's Possible Price Movement#xrp #Ripple #Gold #QFS #NewEra
I like this chart best.
1. Long-term Fibonacci ratio 1.618 range ($26.6~33$, overshooting $50).
2. Cup & Handle pattern target ($31) .
3. 3rd wave Fibonacci ratio 3.618~4.236 range ($21~45).
Filter the fuds & math is correcthttps://t.co/IXMth2CCzq pic.twitter.com/bN9UtJEAAx
- (X)=chi (R)esurrected (P)=rho (@Cryptobilbuwoo0) March 14, 2024
Cryptobilbuwoo believes that XRP's underwhelming performance is temporary and foresees a price increase in the future. The analyst identified three patterns on the weekly chart and outlined potential price targets for XRP once the uptrend began.
The main setup identified by the analyst on the chart is a cup and handle pattern. This is a bullish pattern that often forms when an asset's price forms a rounded bottom (cup), which is often followed by a consolidation phase (handle) before a break to the upside.
According to data from Cryptobilbuwoo's chart, Ripple formed this cup pattern when it retraced from its all-time high value of $3.3498 in January 2018. Also, XRP dropped to a bottom price of $0.1165 in March 2020 before recovering to a value of $1.9659 in April 2021.
Additionally, XRP formed a handle during the consolidation phase, thus based on this cup and handle pattern. So, Cryptobilbuwoo predicts that Ripple will rise to a $31 price target. Remarkably, the $31 price level represents a 4,449% increase from its current price level.
Further, the analyst focused on the Elliot Wave pattern that normally features five waves believing that XRP is currently trading within Wave 3.Based on that he predicts that the third wave will likely support a price increase to the Fibonacci range of 3.618 to 4.236.
This Fib range corresponds with a price target between $21.53 and $45.04. So, XRP must rally 3,061% to attain the $21.54 price level, while a 6,509% surge is required for Ripple to reach the $45.04 price. Ultimately, Cryptobilbuwoo has a higher target for XRP focused on the Fibonacci zone of 1.618, which aligns with a price range between $26.6 to $33.
Despite the positive projections. XRP's price remains largely unchanged at $0.688 today. However, it has gained 10.45 this week and will likely perform better in the long term.
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