XRP has been stuck in a 7-year accumulation phase, which has been a concern for investors. Crypto analyst Babenski predicts that XRP is on the verge of breaking out of this phase and could potentially rally by over 1,200%, reaching a price of $6.
This accumulation started in 2017 and persisted due to the SEC‘s lawsuit against Ripple in 2020, which suppressed the price. Despite a partial victory in 2023, XRP has remained within this range, but with a new bull run anticipated in 2024, a breakout seems likely.
Another analyst, U-Copy, also believes a significant movement is imminent by the end of 2024, though without specifying a price target. Both analyses see a positive outlook for XRP in the near future.
Source: NEWSBTC
XRP Poised for Potential 1,200% Surge as 7-Year Accumulation Phase Nears End, Analysts Predict
