- XRP shows a hidden bullish divergence, similar to 2017, anticipating potential dramatic upside, with growth projections up to 650x.
- Recent analysis highlights XRP’s technical structure and its parallelism with 2017, suggesting a potential rise to $357.24 per coin.
XRP’s recent recovery after hitting low bottoms has generated interest among analysts, with one analyst pointing to a hidden bullish divergence that could translate into an extraordinary rise for the cryptocurrency, projecting growth to 650 times its current value.
After a phase of negative trends, XRP has seen a 9.23% surge in the last week, finally coinciding with the general direction of the cryptocurrency market.
Analyst JayDee envisions a not-too-distant future in which XRP could outperform other cryptoassets, with the possibility of experiencing 650x growth.
The analysis on TradingView by the analyst highlights a hidden bullish divergence in XRP, mirroring a pattern already seen in 2017.
During that year, XRP did not advance at the same pace as the crypto market. Nonetheless, the asset built momentum and achieved a dramatic rise in just a few months.
XRP’s current technical structure bears a strong resemblance to that of 2017, including bullish divergence and a symmetrical triangle price formation. Therefore, if history repeats itself, we could see an exponential rise.
A 650x growth projection from its current value would suggest that XRP’s price could climb as high as $357.24 per coin. Currently, it is trading around $0.56, marking a 2.75% increase in the last 24 hours.
Is such a drastic rise for XRP feasible?
As some experienced investors point out, a 650-fold increase in XRP’s price seems more of a distant possibility than an immediate reality, especially in the short term.
For example, a price of $357 per coin would put the asset’s market capitalization at $1.94 trillion, equaling the current total value of the cryptocurrency market. This calculation is based on XRP’s current circulating supply of 54.5 billion coins.
The overall reflection of recent analysis indicates that XRP has considerable room to grow over the next few years. However, precisely estimating the scale of this growth is challenging, although historical precedent suggests it could be significant.
