The XRP price has shaped a traditional bullish flag sample on the every day timeframe, indicating the potential continuation of an uptrend. With its worth at the moment buying and selling at $2.3, a crypto analyst has projected that the third largest cryptocurrency might quickly expertise a big 45% enhance to new highs of $2.9.
XRP Price Targets $2.9 With Bullish Flag Setup
A bullish flag is a chart sample that usually emerges after a pointy upward worth motion, throughout consolidation, or a brief pullback. It indicators {that a} cryptocurrency will possible resume its uptrend and proceed growing worth to new worth highs.
In line with the brand new XRP price analysis by TradingView crypto analyst Cobra Vanguard, a brand new bullish flag sample can now be seen on the every day timeframe within the XRP chart. The bull flag, which started forming round December 2024, extends into late January 2025.
Based mostly on this flag formation, the TradingView analyst has shared an optimistic projection of XRP, highlighting a number of vital Fibonacci retracement and extension ranges as potential support and resistance areas.
The 0.382 Fibonacci level on the $2.0 mark is a right away assist stage for XRP throughout its consolidation section. Regardless of buying and selling at simply $2.3, Cobra Vanguard believes XRP might see a minor enhance to the 0.618 Fibonacci stage at $2.4. This worth stage would mark a vital resistance stage that would ship XRP even greater as soon as damaged.
In his TradingView report, the analyst additionally enthusiastically predicted that if XRP can get away of its already shaped bullish flag sample, it might drive an enormous 45% worth surge to $2.9. This bullish worth goal aligns with the 1.0 higher Fibonacci extension stage, as indicated by the XRP chart.
For a longer-term target, Cobra Vanguard initiatives that XRP might rise to the 1.272 Fibonacci stage at $3.2. The belief of this optimistic worth outlook would depend upon XRP maintaining a strong upward momentum and concurrently avoiding important market corrections.
Cobra Vanguard‘s XRP price chart additionally suggests a breakout from the bullish flag sample might occur someday in January. In consequence, the analyst’s formidable $2.9 XRP worth goal is anticipated to happen inside the first two weeks of February.
Analyst Says Surge To $13 Not Inconceivable But
Additionally commenting on the formation of the new bullish flag pattern on the XRP chart, crypto analyst Tony Severino projected a good greater worth goal for the third largest cryptocurrency. If the bullish flag sample holds, XRP might attain a brand new goal of $13.
Whereas Severino acknowledges {that a} $13 worth enhance is formidable and nicely past his earlier projections, he confidently maintains that it isn’t an inconceivable goal to achieve. The analyst’s chart means that if XRP breaks out of the bullish flag sample, it might expertise a exceptional 483.13% surge from its present market worth.
Featured picture created with Dall.E, chart from Tradingview.com
