Crypto analyst BarriC has predicted that the XRP price could soon recover and rebound to as high as $3. The analyst also revealed how high the token could reach when the altcoin season begins.
XRP Price Eyes Recovery To $3 As Analyst Reveals Target
In an X post, BarriC affirmed that the XRP price will hit $3 very soon. He further remarked that when that happens, the altcoin will skyrocket up to $5, marking a new all-time high (ATH). The crypto analyst added that the altcoin will then finally reach between $10 and $20 at the peak of the upcoming altcoin season.
Interestingly, BarriC even revealed a more ambitious target for the XRP price, predicting that the altcoin could still rally to as high as $1,000 at some point. He noted that the price target of $10 to $20 is just the trajectory within the parameters of an altcoin season. However, outside this parameter, he believes that the asset can indeed reach $1,000.
This isn’t the first time the crypto analyst has predicted that the price can reach such an ambitious target. He had previously alluded to institutional adoption as the major factor that could drive XRP to this target. BarriC noted the impact of Bitcoin ETFs on the BTC price and remarked that the XRP ETFs could also have a similar effect and send the altcoin to new highs.
Crypto analysts like Egrag Crypto have given a more conservative price target for the altcoin, predicting that it could rally to double digits in this cycle and triple digits in the next cycle. Like BarriC, the analyst also alluded to the XRP ETFs as what could spark this massive price surge. As Bitcoinist reported, these ETFs currently lead the race for approval from the US SEC.
One Final Dip For Rallies To New Highs
In an X post, crypto analyst Egrag Crypto stated that the XRP price may face one final dip before it rallies to new highs. He remarked that if the altcoin doesn’t close above $2.30 to $2.50 on the 5-day timeframe, then a potential retest of $1.85 is still on the table. However, the analyst assured that the targets remain the same, with the altcoin set to rally to $7.50, $13, and then $27.
Meanwhile, Egrag Crypto also warned market participants that a major liquidation event with a wick to $1.4 is still possible. He added that market makers know how to surprise the market with news that could either dump or pump it. This news could relate to the ongoing trade war between the US and China.
At the time of writing, the asset’s price is trading at around $2.10, up almost 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Pixabay, chart from Tradingview.com
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