An influential market analyst has outlined projections for XRP’s price trajectory, identifying potential milestones at $8.1 and $11 within the current market cycle. The forecast leverages historical patterns associated with Bitcoin halving events to provide a timeline for these targets.
Recent XRP Performance and Market Correction
XRP recently achieved a significant milestone, surging to $2.9 on December 3—its highest level in seven years. This milestone followed an extended bullish run but was short-lived as the asset faced a sharp retracement. Over the past three days, XRP has dropped by over 18%, partially driven by Bitcoin’s correction from its record-breaking $100,000 price level.
Despite this downturn, Master Kenobi, a prominent analyst, emphasized that XRP’s upward journey remains intact. By examining historical trends in XRP’s performance relative to Bitcoin halving events, Kenobi has predicted that the asset could reach $11 during this cycle.
Initial Rally and Current Pullback
Kenobi observed that during previous cycles, XRP experienced significant rallies approximately 224 days after Bitcoin’s halving. In the current cycle, however, the rally began earlier, around 204 days post-halving, and culminated in XRP’s rise to $2.9.
The analyst noted that historical price trends often involve a correction following an initial parabolic movement. For this cycle, the pullback began on December 3 and has since pushed XRP into the lower $2 range.
Kenobi projects that this phase could drive the asset’s price down to $1.39, which he identified as a critical support zone. According to him, this level could serve as a launchpad for a subsequent rally, allowing market participants to prepare for the next upward momentum.
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The projection for a Second Rally to $8.1
Kenobi anticipates that once XRP stabilizes at lower levels, it will enter a fresh rally. Based on his analysis, the asset could surpass $8.1 by late February 2025, drawing parallels with the 2017 bull market rather than the most recent cycle. He attributed this to XRP’s tendency to mirror older patterns under specific conditions.
The six-year white trendline, identified as a crucial resistance point, is expected to play a pivotal role in this rally. According to Kenobi, XRP’s interaction with this trendline could trigger price movements that align with historical trends, propelling the asset to new highs. If XRP achieves this $8.1 milestone, its market capitalization will rise to $461.7 billion, setting a new record.
Kenobi highlighted that this valuation aligns with historical precedents, noting, “Ethereum reached a $548 billion market cap during its previous peak,” suggesting that similar levels for XRP are achievable.
Potential for a Final Surge to $11
Following the anticipated peak at $8.1, Kenobi predicts an extended consolidation phase that could last several months. This period, he explained, is crucial for stabilizing the market and preparing for the next price movement.
Approximately 200 days after this consolidation phase begins, XRP could experience its final rally in this cycle, potentially reaching $11 by mid-October 2025. If this projection materializes, XRP’s market capitalization will approach $627 billion, marking a significant achievement. However, Kenobi cautioned that broader market conditions would heavily influence this outcome.
At the time of writing, XRP is trading at $2.40, reflecting a 6.14% increase from its recent lows as the market shows signs of recovery following the recent correction.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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