Crypto Analyst Mikybull Predicts Massive XRP Surge Similar to Dogecoin Rally
Key takeaways
- Economist Mikybull predicts XRP will experience a massive price rally similar to Dogecoin's recent surge.
- Dogecoin saw a 205% rise in nine days, pushing its market cap above XRP and USDC.
- XRP has recently gained 24%, reaching its highest level in eight months.
Mikybull Predicts XRP Surge Like DogecoinCrypto analyst Mikybull believes XRP is preparing for a major rally. Previously, Mikybull tweeted his optimistic prediction, comparing XRP's potential surge to Dogecoin's recent explosion.
At that time, XRP's price had been relatively calm while Dogecoin was soaring. Dogecoin had jumped from $0.1428 to $0.4359 within nine days, marking a 205% rise.
This surge pushed Dogecoin's market cap beyond $55 billion, placing it above XRP and USDC in the rankings. Moreover, its 24-hour trading volume increased to $19 billion, according to CoinMarketCap.
While Dogecoin was experiencing this massive price rally, XRP was lagging behind and unable to keep pace. Nevertheless, Mikybull remained optimistic about XRP's future despite this gap. He believes XRP will soon follow Dogecoin's footsteps, triggering a similar market frenzy.
XRP Targets $2 Price if Rally Mirrors DogecoinMikybull forecasted that XRP could reach $2 by the end of 2024, pointing to its price action and breakout patterns. At the time of his prediction, XRP was trading around $0.5925.
Following the forecast, XRP gained 31% in the past week, climbing to $0.7354, its highest price in eight months.
However, XRP has faced some resistance at the $0.74 level, a critical point in its price action this year. Market analysts now believe XRP could break through the long-standing $1 resistance level soon, possibly by Friday.
Mikybull's bullish outlook has attracted attention in the crypto community. He remains confident that XRP is primed for a giga send," similar to Dogecoin's rally.
He pointed to a breakout in the RSI indicator as a strong sign that XRP could soon see a major price surge.
While Mikybull's $2 price target has sparked excitement, some XRP enthusiasts believe this forecast is too conservative. A prominent XRP fan, Gauda, argued that XRP could rise as high as $20 if it rallies like Dogecoin.
Gauda noted that $2 would still be far below XRP's all-time high, urging Mikybull to aim higher. He remains optimistic that XRP has the potential to exceed expectations and deliver massive gains if the market conditions align.
This bullish prediction aligns with the one analyst EGRAG shared on October 21 through an X post. The analyst said then that the XRP/BTC trading pair hit an important support level tagged YOLO."
In the post, EGRAG highlighted previous events, which he thinks will soon play out. Based on that, he predicted XRP to climb $17 if BTC hit $100,000. With several bullish forecasts and rising enthusiasm from investors, XRP could soon make a significant move in the market.
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